South Korea has welcomed North Korea's decision to suspend its nuclear and missile tests and close its atomic test site to focus on building its economy. 

In a statement released on Saturday by chief presidential secretary for public relations Yoon Young-chan, the presidential office said it welcomes the North's decision as meaningful progress for the denuclearization of the Korean Peninsula. 

The North's decision, he said, will help create a "very positive environment" for the success of the upcoming inter-Korean and North Korea-U.S. summits.

The office vowed to do its best in preparing for next week's cross-border summit so that it will lead the way toward denuclearization and lasting peace on the peninsula.

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