North Korea has accepted South Korea's proposal for a new round of economic talks in the South's island of Jeju early next month.

The Unification Ministry said Thursday that Pyongyang said in a telegram that it "basically agrees" to hold the 12th round of inter-Korean economic talks in Jeju for four days next month but requested a later starting date than the proposed June 1st.

Analysts said the quick reply to the offer after Pyongyang unilaterally canceled test runs on inter-Korean railways suggests North Korea wants to continue economic cooperation with South Korea.