US Secretary of State Mike Pompeo on Thursday named a Ford Motor Co. executive as special envoy for North Korea and said they would both travel to the nuclear armed country next week.

Stephen Biegun, who is retiring as Ford's vice president for international governmental affairs, had been considered for the post of US President Donald Trump's national security advisor before it went to John Bolton.

"Steve will direct the US policy towards North Korea and lead our efforts to achieve President Trump's goal of the final, fully verified denuclearization of North Korea, as agreed to by chairman Kim Jong Un," Pompeo said.

"He and I will be traveling to North Korea next week to make further diplomatic progress towards our objective," he said.

The trip will be Pompeo's fourth to North Korea, and the second since a historic summit June 12 between Trump and Kim.

"The State Department has already done excellent work in implementing and sustaining the pressure campaign, putting together the first ever leader-level summit in Singapore and laying the groundwork to hold North Korea accountable to the promises that chairman Kim has made," Pompeo said.