Newly elected South Korean President Moon Jae-in has sworn in on the role of president and promised to fight the problems that his country has in economic terms. He said that they will work on relations with North Korea. He added he was even ready to visit Pyongyang under the right circumstances. Moon is a former human rights lawyer and son of a North Korean refugee who is known for his liberal views, the BBC writes.

Serious talks

In his inauguration speech, Moon said he will do everything in his power to achieve peace on the peninsula. "If so, I'll go to Washington right away.

I'll also go to Beijing, Tokyo or Pyongyang under the circumstances," Moon said.

He also announced serious talks with the United States and China about setting up the THAAD system. North Korea has yet to officially comment on Moon's victory but had already stressed earlier that he is the most successful candidate for the president.

The new president commented on the newest North Korean missile test and said that it is a clear violation of the UN Security Council resolution. "The president has said that South Korea is open to the possibility of dialogue with North Korea, but it will only be possible when their attitude starts to change," spokeswoman Yoon Young-chan said.

Reaction to the new missile test

The Japanese Defense Ministry has announced that the North Korean missile had reached a height of more than 2000 kilometers and that it could be a new type of missile. Defense Minister Tomomi Inada said the missile fell into the Japanese Sea about 400 kilometers from the east coast of North Korea after 30 minutes of flight.

The US Oceanic Command has announced that it is trying to determine which type of missile it was and that it does not seem to be an intercontinental ballistic missile.

The South Korean Army announced that North Korea fired a ballistic missile from its western coast that crossed 700 kilometers before it fell to the Japanese Sea.

It is about higher altitude and range compared to the Middle Range missile that North Korea successfully tested in February. It is believed that North Korea, defying invitations to limit the development of its weapons is developing an intercontinental missile equipped with a nuclear charge that could reach the United States. Donald Trump promised this would not happen.

Experts say the Sunday testing has shown a much greater range compared to previously tested missiles, meaning that the country's weapons development has made progress since February. The test was performed at 5.27 hours local time and two weeks after the North Korean missile broke down a few minutes after the launch, which was the fourth in a row of unsuccessful attempts since March.