South Korea welcomed North Korea's decision to suspend nuclear and missile tests and shut down its atomic test site on Saturday.

"North Korea's decision is meaningful progress for the denuclearization of the Korean Peninsula, which the world wishes 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-U.S. summits."

The presidential office pledged to prepare the summit between President Moon Jae-in and North Korean leader Kim Jong-un "so that it could lead the way toward denuclearization and a lasting peace on the Korean Peninsula." (Yonhap)

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