North Korea said it's premature to declare a formal end to the Korean War, rejecting President Moon Jae-in's proposal. 

Vice Foreign Minister Ri Thae-song said in a statement carried by the Korean Central News Agency on Friday that the general situation confirms that it is not yet the time to make the war-ending declaration. 

Ri stressed that "nothing will change" as long as the political circumstances around the North remain unchanged and the U.S. hostile policy is not shifted, even if the end of the war is declared hundreds of times.

The vice minister continued that the declaration at this point won't help stabilize the situation on the Korean Peninsula and could be used to disguise the U.S.' hostile policy toward North Korea.

He added that the U.S. withdrawal of its double-standards and hostile policy is the top priority in stabilizing the situation on the peninsula and ensuring peace.

Earlier this week, Moon repeated a call for a formal end to the Korean War in his address to the UN General Assembly, proposing the two Koreas and the United States, possibly joined by China, make such a declaration.