South Korean President Moon Jae-in on Wednesday struck an upbeat note over the peace prospects on the Korean Peninsula in his speech to the UN General Assembly.

"Over the past year, something miraculous has taken place on the Korean Peninsula," Moon told the annual General Debate of the assembly.

He and Kim Jong Un, the top leader of the Democratic People's Republic of Korea (DPRK), "removed the shadow of war and resolved to usher in an era of peace and prosperity," said Moon.

At the June summit between Kim and U.S. President Donald Trump in Singapore, the two sides agreed to work toward achieving complete denuclearization of the Korean Peninsula, ending hostile relations and establishing a permanent peace regime, he noted.

At the third Moon-Kim meeting last week in Pyongyang, Kim expressed his hope of completing denuclearization as soon as possible to focus on economic development, said Moon.

The Korean Peninsula has remained under the armistice over the past 65 years. Ending the Korean War is an urgent task, Moon said. "It is a process that we must go through in order to move toward a peace regime. I look forward to seeing bold measures for denuclearization implemented among the related countries, leading to the declaration to end the war."

Regardless of the challenges that lie ahead, the leaders of the two Koreas and the United States will move step by step toward peace based on mutual trust, said Moon.

Such a dramatic change has been possible thanks to the support and encouragement of the people around the world who desire peace, he said.

"This is, however, just the beginning. I would like to ask for continued support and cooperation from the member states on our journey toward complete denuclearization and permanent peace."

Now, it is the international community's turn to respond positively to the DPRK's new choice and efforts, he said. "We must assure Chairman Kim that he has made the right decision in committing to denuclearization. We must encourage North Korea to stay on the path that leads to permanent and solid peace."

Moon's address drew applause of the DPRK representatives sitting in the General Assembly hall, something rare between the two long-time rivals.