He also said he would shutter North Korea's main Yongbyon nuclear production site if the USA takes reciprocal actions - though it wasn't clear what steps he was looking for.
At the two-day summit in Pyongyang, held amid a deadlock in denuclearization negotiations between the three countries, Kim also promised to visit Seoul "in the near future", possibly by the end of this year.
Kim and Moon also agreed to collaborate on a bid to host the 2032 Summer Olympics.
Leaders and high-ranking officials from North and South Korea launched their third global summit this week with the hopes of kick-starting the recently stalled denuclearization talks.
The Tonchang-ri missile pad is now expected to be closed permanently, but the dismantlement of the Yongbyon nuclear facility will be dependent on USA actions.
North Korea blocked roads from Pyongyang International Airport to the city center for a auto parade Tuesday to welcome South Korean President Moon Jae-in.
Moon also said Kim would try to visit Seoul sometime this year.
"We have agreed to make the Korean Peninsula a land of peace that is free from nuclear weapons and nuclear threat", Mr Kim said as he stood by Mr Moon's side at the guesthouse where Mr Moon is staying.
Moon on Wednesday acknowledged, "there will be challenges and trials, but the more we overcome them the stronger we will become".
Mr Moon's meeting with President Trump may pave the way for a second Trump-Kim summit meeting, allowing the United States and North Korea to work through the current logjam in the denuclearisation process.
Earlier in the day, Kim greeted Moon at the Pyongyang airport with a spectacle.More news: Hurricane Florence’s death toll rises as floodwaters overwhelm region
On Wednesday evening, Moon's party will dine at a new fish restaurant in Pyongyang opposite Mansu hill, where giant statues of Kim's predecessors - his grandfather Kim Il Sung and father Kim Jong Il - look out over the city.
Meanwhile, to help reduce tensions, a new military deal was signed to defuse clashes at the border.
While details of denuclearization may have been scarce at this summit, the leaders of North and South Korea did agree to end artillery drills near their borders, to create a buffer zone in the Yellow Sea, to set up a no-fly zone near their mutual border, and to each get rid of 11 border guard posts by the end of this year.
The statement also said Kim would visit Seoul in the near future.
North and South Korea will bid jointly for the 2032 Olympics, they announced Wednesday, in an ambitious plan built on hopes of deepening a diplomatic thaw catalysed by this year's Winter Games in the South.
② The two sides agreed to resolve the issue of video meetings and exchange of video messages among the separated families as a matter of priority through the inter-Korean Red Cross talks.
Moon landed in North Korea Tuesday morning.
Unlike Trump's initial tweets praising the summit, the news brought a quick and negative response from Republican Sen. Follow-up meetings between Secretary of State Mike Pompeo and North Korean officials failed to produce concrete results, and Pyongyang quickly returned to its bombastic anti-American rhetoric.
"It's worrying there was no mention of North Korea's current missile and nuclear warhead stockpiles in the statement", he added.
Performers hold up cards to form patterns during the "Glorious Country" mass games held in conjunction with the 70th anniversary of North Korea's founding day in Pyongyang on September 9.
However, "President Moon makes economic promises he can't deliver without United Nations and USA acquiesce to accepting blatant violations of United Nations resolution sanctions and US laws", wrote Klinger.