Donald Trump tweeted following the announcement reported by the North's state media. (File)

US President Donald Trump on Friday hailed as "very good news" for the world the decision by North Korean leader Kim Jong Un to stop ballistic missile tests and shut down its atomic test site.

"This is very good news for North Korea and the World - big progress! Look forward to our Summit," the US leader tweeted following the announcement reported by the North's state media.It emerged this week that Trump's CIA chief had recently met the reclusive North Korean leader, significantly boosting the odds of the Trump-Kim summit going ahead in late May or early June.