North Korea announced Saturday it will suspend nuclear tests and intercontinental ballistic missile launches ahead of its summits with Seoul and Washington, but stopped well short of suggesting it has any intention of giving up its nuclear weapons or scale back its production of missiles and their related component parts.

The new policy, which sets the table for further negotiations when the summits begin, was announced by leader Kim Jong Un at a meeting of the North Korean ruling party's Central Committee on Friday and reported by the North's state-run media early Saturday.

Kim justified the suspension to his party by saying that the situation around North Korea has been rapidly changing "in favor of the Korean revolution" since he announced last year his country had completed its nuclear forces. He said North Korea has reached the level where it no longer needs to conduct underground testing or test-launching of ICBMs.

He added that the country would close its nuclear testing facility at Punggye-ri, though that site was already believed to have been rendered largely unusable due to tunnel collapses after the North's test of what it claimed was a hydrogen bomb last year.

The announcement is seen as an opening gambit aimed at setting the tone for talks ahead of Kim's summit with South Korean President Moon Jae-in next Friday and U.S. President Donald Trump in late May or early June.

Trump almost immediately responded with a tweet saying, "This is very good news for North Korea and the World" and "big progress!" He added that he's looking forward to his upcoming summit with Kim.

South Korea's presidential office also welcomed North Korea's announcement as "meaningful progress" toward the denuclearization of the peninsula. Presidential official Yoon Young-chan said in a statement that the North's decision brightens the prospects for successful talks between Seoul, Pyongyang and Washington.

Japan's Prime Minister Shinzo Abe welcomed the announcement too but was a bit more guarded in his reaction.