The meeting will see the diplomats briefing the countries about the Moon government's policy plans and exchanging opinions on how to establish firmer ties against a belligerent North Korea, the presidential office said. Pyongyang's aggressive push to boost its weapons program also makes it one of the Trump administration's most urgent foreign policy worries, though Washington has struggled to settle on a policy.
Kim witnessed the test and "hugged officials in the field of rocket research, saying that they worked hard to achieve a great thing", according to KCNA.
The country's leader, Kim Jong-un, supervised the launch of the Hwasong-12 missile that reached an altitude of 2,111.5 km and flew 787 km, according to state news agency KCNA.
Japanese officials said Sunday that the missile flew for half an hour and reached an unusually high altitude before landing in the Sea of Japan.
Past North Korean missiles have flown farther than Sunday's test, landing closer to Japan, but this launch follows a series of high-profile failures.
The North has successfully launched long-range rockets twice to put objects into space.
Before Sunday's launch, an intermediate-range missile called Musudan was thought to have the longest potential range among the missiles that North Korea has test-fired - about 3,500 kilometers (2,180 miles).
Analysts called this North Korea's most successful missile test ever and a significant advancement in its quest to build a nuclear-capable intercontinental ballistic missile (ICBM), reports CNN.
"To that end, the Security Council demanded the Democratic People's Republic of Korea conduct no further nuclear and ballistic missile tests", the council said, adding that it was ready to impose further sanctions on the country.
State media paraphrased North Korea's leader as saying that "the most flawless weapon systems in the world will never become the eternal exclusive property of the USA", warning that "the US should not. disregard or misjudge the reality that its mainland and Pacific operation region are in (North Korea's) sighting range for strike".
While it wasn't immediately clear what type of missile was launched, the U.S. Pacific Command said that "the flight is not consistent with an intercontinental ballistic missile". Moon has been concerned by that deployment, which he believes was done hastily before he took over as South Korea's president.
The U.S. military's Pacific Command said the type of missile that was sacked was "not consistent with an intercontinental ballistic missile".
Last week, it demanded that the South hand over its spy chief.
In Seoul, some citizens expressed frustration. Mr. Trump has also said he'd be "honoured" to talk with leader Kim Jong-un under favourable conditions.
Russian Federation has shown concern about Pyongyang's missiles, but it may also see North Korea as an opportunity to gain leverage with the West, the U.S. in particular, according to CNN Moscow Bureau Chief Matthew Chance.
The U.S. ambassador to the U.N., Nikki Haley, said on ABC television that the United States has been working well with China, Pyongyang's closest ally, and raised the possibility of new sanctions against North Korea, including on oil imports.
U.S. President Donald Trump's administration has called North Korean ballistic and nuclear efforts unacceptable, but he has swung between threats of military action and offers to talk as it formulates a policy.
"Having a missile test is not the way to sit down with the president, because he's absolutely not going to do it", Nikki Haley, the US ambassador to the United Nations, told ABC's "This Week".
The North says it needs atomic weapons to defend itself against the threat of invasion and has carried out two atomic tests and dozens of missile launches since the beginning of previous year. Some analysts believe the missile, if proven in further tests, could reach Alaska and Hawaii if fired on a normal, instead of a lofted, trajectory.
At a huge military parade that Kim presided over last month, North Korea displayed two of its newest model missiles, including the submarine-launched ballistic type it successfully fired a year ago and the land-based version it launched last month.
South Korea has said it was unaware of what North Korea was referring to, while the Central Intelligence Agency and the White House declined to comment on the May 6 statement from North Korea's Ministry of State Security. The distance to Hawaii, headquarters for US military operations in the Pacific, is 7,400 km. The US has sent warships and submarines to waters off the Korean Peninsula, engaged in drills with South Korean and Japanese forces, and has pushed for stronger economic sanctions on Pyongyang.