President Moon Jae-in said Tuesday he hopes to hear from North Korea on his peace initiatives introduced in Berlin last week, adding that it appears to be "the only road" left for the internationally-isolated Pyongyang.

Moon laid out a five-point plan aimed at reconciliation with the North in the initiatives during his invitational speech at the Korber Foundation in Berlin before joining the G20 summit in Hamburg from July 7 to 8.

The plan included signing a peace treaty with North Korea to replace the 1953 Korean Armistice Agreement and guaranteeing the security of the Kim regime in return for its denuclearization.

The reconciliatory gesture came despite the Kim Jong-un regime's launch of an intercontinental ballistic missile (ICBM), July 4.

"It was meaningful for the government to reveal the peace initiatives forthe Korean Peninsula during our visit to Berlin. We appear to be far from it but it is where we should be headed for inter-Korean relations." Moon said during a Cabinet meeting at Cheong Wa Dae. "It also appears to be the only road left for North Korea. I look forward to hearing North Korea's response."

The President positively assessed the first joint talks with U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe on the sidelines of the summit.

The three leaders promised to bolster joint measures against North Korea's nuclear and ballistic missile programs.

Moon, however, admitted that the denuclearization of the North still faces a bumpy road ahead. He also assessed that South Korea is not capable of resolving the security crisis on the peninsula on its