South Korea on Saturday welcomed North Korea’s decision to suspend nuclear and missile tests and shut down a nuclear test site, hailing it as a “meaningful progress.”

“North Korea’s decision is a meaningful progress for the denuclearization of the Korean Peninsula the world has hoped for,” the presidential office said in a statement. “It will create a very positive environment for the success of the upcoming inter-Korean and North-US summits.” 

North Korea announced that it will stop nuclear tests and launches of intercontinental ballistic missiles and dismantle a nuclear test site in the country’s northern side, providing momentum for the upcoming inter-Korean summit to be held on April 27.

"From April 21, North Korea will stop nuclear tests and launches of intercontinental ballistic missiles,” North Korea’s state-run Korean Central News Agency reported Saturday, citing the result of the plenary meeting of the ruling party held a day earlier.

“The North will dismantle a nuclear test site in the country‘s northern area to guarantee transparency in suspending nuclear tests,” it added.

North Korea has conducted all of its six nuclear tests – the latest and the most powerful one in September last year -- at the Punggye-ri test site in the northeastern province since 2006.

The decision was made at the plenary meeting of the Central Committee of the ruling Workers’ Party of Korea, where the North also vowed to focus all of its efforts to boost its “socialist economy.”

Analysts say North Korea‘s economy has been hit hard by multi-layered sanctions by the United Nations Security Council, and unilateral sanctions by the US, South Korea and other countries.

North Korean leader Kim Jong-un will sit down with President Moon Jae-in next Friday, with the North’s denuclearization and ways to build a peace regime on the Korean Peninsula expected to top the agenda.

US President Donald Trump, who is planning to hold a summit with Kim in May or in early June, welcomed the North’s decision.

“This is very good news for North Korea and the World - big progress! Look forward to our Summit,” Trump tweeted.

By Ock Hyun-ju (laeticia.ock@heraldcorp.com)