Analysts said that in exchange for sending missiles and artillery shells to Russia, Kim would expect access to Russian satellite technology, nuclear submarines and food aid.
The United States has said that if North Korea and Russia reach an arms deal, it would step up sanctions against both countries.
At the Vladivostok economic conference, Putin also threw his support behind Donald Trump, who hopes to be re-elected president of the United States next year, and said the criminal charges against him were politically motivated.
“We hear that Mr. Trump says he will solve pressing problems within days, including the Ukraine crisis. Well, it can only bring happiness,” he said.
Mr Trump regularly boasted of his good relationship with Putin and Western policymakers fear he could abandon his support for Ukraine if he becomes president.
Putin also praised Elon Musk, the South African billionaire owner of the Starlink satellite network that provided internet to Ukrainians throughout the war.
Last month, Mr Musk refused to activate Starlink around occupied Crimea because he suspected it would be used to facilitate a Ukrainian attack.
“He is an active and talented businessman,” Putin said.
Putin criticizes the Soviet Union
Putin, who said Ukraine could only exist as part of Greater Russia, criticized the Soviet Union for sending tanks to Prague in 1968 and Budapest in 1956 to crush uprisings.
“Nothing should be done in foreign policy that is in direct contradiction with the interests of other peoples,” he declared.
Earlier, he ordered Russia to triple its production of liquefied natural gas in the Arctic, as he seeks to dominate one of the world’s last under-explored regions.
“This will make a huge contribution to the development of our northern regions and strengthening Russia’s technological sovereignty,” he said, a day after Russia unveiled two new icebreakers in the Arctic.