"The denuclearisation of the Korean peninsula the two Koreas agreed upon jointly (in the past) is our basic stance that will never be given up," Moon said in an address during his New Year's news conference.

North and South Korea agreed at their first formal talks in more than two years on Tuesday to resolve all inter-Korean matters through dialogue and to revive military talks to avert accidental conflict. Tensions have risen on the Korean peninsula over the North's missile and nuclear weapons programmes.