Trump has also said he'd be "honored" to talk with leader Kim Jong Un under favorable conditions.
The missile launch comes days after North Korean officials announced their aims to launch a "series of powerful anti-terrorist" strikes against President Donald Trump's free world. The North has consistently test-fired missiles in that direction.
The latest test was also the North's first launch since a controversial USA missile defence system deployed in the South became operational on May 2 and follows a failed April 29 ballistic missile test.
He added Japan would stay in close touch with the USA and South Korea.
US President Donald Trump has been briefed on North Korea's latest missile launch and believes Russian Federation must be unhappy with the firing as the missile fell close to the country, the White House said Sunday.
Moon, the first liberal leader in Seoul in almost a decade, said as he took his oath of office that he'd be willing to visit the North if the circumstances were right.
It was not clear what type of ballistic missile was sacked.
Moon expressed "deep regret over North Korea's reckless provocation" and ordered his troops to bolster deterrence against its military threats on the basis of the robust alliance with the United States. It was launched near Kusung and landed in the Sea of Japan. The missile was sacked from a site near the northwestern city of Kusong.
White House was warned Flynn at risk of blackmail
Commenting on this conversation on Fox news, President Donald Trump blamed the Obama administration for not vetting Flynn. Mr Trump has dismissed FBI and congressional investigations into his campaign and Russian Federation as a "hoax".
Abe said, "Japan is closely cooperating with the USA and South Korea and analyzing the situation as we firmly respond to the development".
The missile flew about 500 km with an altitude of 550 km. Those are the missiles the U.S.is most anxious about, with the ability to reach the U.S. West Coast.
The North attempted but failed to test-launch ballistic missiles four times in the past two months but has conducted various tests since the beginning of a year ago at an unprecedented pace.
Weapons experts and government officials believe the North has accomplished some technical progress with those tests.
US President Donald Trump warned in an interview with the Reuters news agency in late April that a "major, major conflict" with the North was possible, but he would prefer a diplomatic outcome to the dispute over its nuclear and missile programs.
"The president said we are leaving open the possibility of dialogue with North Korea, but we should sternly deal with a provocation to prevent North Korea from miscalculating".
Shen Dingli, a professor of global relations at Fudan University in Shanghai, says North Korea conducted the test to show its "determination to develop nuclear weapons and missiles remains unchanged".
North Korea has briefly reported on Moon's election win and said conservatives in South Korea should be thrown out for good for inciting confrontation between the rival states.
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