But while containing several tantalizing offers, it appears to fall short of the major steps many in Washington had been looking for - such as a commitment by Pyongyang to provide a list of the North's nuclear facilities, a solid step-by-step timeline or an agreement to allow worldwide inspectors in to assess progress or discover violations.
The announcement after the meeting - where the South and North Korean heads also signed a broad peace agreement aimed at continuing denuclearisation efforts in the region - sees the two countries become the latest to express an interest in hosting the 2032 Olympics and Paralympics. And soon after that, Kim was in Singapore with the president of archenemy the United States, Donald Trump.
Next week, Moon is expected to brief Trump during a trip to the United Nations. Moon is expected to use the meeting to urge further U.S. While the bulk of the fighting ended in 1953, the Korean War is still technically ongoing. Washington is demanding concrete action towards denuclearization before agreeing to key goals of Pyongyang - declaring an official end to the 1950-53 Korean War and easing tough worldwide sanctions. "But we aren't afraid of headwinds because our strength will grow as we overcome each trial based on the strength of our nation". It did not make any reference to its nuclear weapons program.
As a first step, the North wants the United States to declare an end to the 1950-53 Korean War. Lindsey Graham, who tweeted that he was concerned the visit would undermine efforts by Secretary of State Mike Pompeo and U.N. Ambassador Nikki Haley to impose "maximum pressure" on the North.
Whatever happens down the road between Kim and Trump, or Kim and whoever follows Trump, since North Korean leaders tend to outlast American presidents, this is to be regarded as a moment of triumph.
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"The North has expressed its intention to take additional [denuclearization] measures such as the permanent dismantlement of the Yongbyon nuclear center", the declaration read, "should the U.S. take corresponding measures in accordance with the June 12 North-U.S. summit".
But there wasn't enough in terms of new, concrete promises to satisfy many experts. "Today the North and South chose to remove all threats that can cause war from the entire Korean peninsula".
North Korea had put the iconic games, which feature tens of thousands of performers dancing and flipping placards in unison to create giant mosaics and slogans, on a back burner for the past several years, but revived them for this month's celebrations of its 70th founding anniversary.
"But it is no closer to North Korean disarmament", he said. In return, the USA has indefinitely halted joint military exercises in South Korea, but is demanding a list of North Korean nuclear facilities as the start point of the process, and is expected, thereafter, to demand an inspection and verification protocol to be overseen by professional worldwide inspectors.
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But others took a more positive view.
Both sides have to be ready to make compromises to move the process of denuclearization forward, said John Delury, associate professor of Chinese Studies at Yonsei University Graduate School of International Relations.
Andrei Lankov, a professor at Kookmin University in Seoul, said it would take time to understand the significance of what Kim was offering, especially in relation to its Yongbyon facility, home to the country's only nuclear reactor and key to its production of weapons-grade plutonium - although other sites are believed to produce highly enriched uranium.
Meanwhile, to help reduce tensions, a new military deal was signed to defuse clashes at the border. Remove 11 guard posts in the demilitarized zone by the end of the year. In addition, the agreement envisions setting up a buffer zone in the Yellow Sea and suspending maritime drills.
The two sides also agreed to normalize operations at Mount Kumgang, and at a similarly shuttered southern-invested complex in North Korea, the Kaesong industrial zone.
Kim Hosts South Korea's Moon For Summit Talks In Pyongyang
As Moon arrived, the North's main newspaper said Washington was responsible for the lack of progress in denuclearisation talks. We need to have "a more concrete agreement on inter-Korean relationships and reducing the [military tension]", he said.
The United States worries that South Korea may be inclined to provide the support North Korea wants, lessening the impact of the economic sanctions.
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