Pyongyang's move was "a significant decision towards total denuclearisation of the Korean peninsula", Moon said in a meeting with aides.

Kim declared that Pyongyang had no further need for nuclear tests or intercontinental ballistic missile launches, and no further use for its atomic test site, the North announced at the weekend.

The statement was immediately welcomed by US President Donald Trump, who is expected to hold a summit of his own with Kim soon.

But analysts warned that Pyongyang had made no commitment to give up its nuclear arsenal.

Moon said Monday that the North's move was "a green light that improves the prospect of success of the inter-Korea and North-US summits".

"If the North takes a step towards denuclearisation, starting from nuclear moratorium, it could guarantee a bright future," he added.

The latest step, he said, "raises hopes that the pace will accelerate".