North Korean leader Kim Jong-un hailed the launch as a test of the "perfect weapon system" and capable of carrying "a large-size heavy nuclear warhead".
The council urged North Korea to show "sincere commitment to denuclearization through concrete action" and stressed the importance of "working to reduce tensions".
The pledge came at a meeting between a senior North Korean foreign ministry official and diplomatic representatives from four Southeast Asian countries, including Vietnam and Laos, over its latest test of a new ballistic missile. Since then, it has progressively strengthened the measures in response to the pariah state's five nuclear tests and two long-range rocket launches. On the respected 38 North website, aerospace engineering specialist John Schilling said it appeared to demonstrate an intermediate-range ballistic missile that could "reliably strike the USA base at Guam" in the Pacific, 3,400 kilometres away.
North Korea on Sunday launched what appeared to be its longest-range ballistic missile yet, saying it was capable of carrying a "heavy nuclear warhead" in a test aimed at bringing the U.S. mainland within reach.
South Korea's defense minister claimed Tuesday that the North's missile defense program was advancing much faster than originally believed and that the use of the USA -developed and installed THAAD anti-missile system had been used for the first time to detect the authoritarian regime's latest test, Reuters reported.
President Donald Trump's administration has called for an immediate halt to Pyongyang's provocations and has warned that the "era of strategic patience" with North Korea is over.
The missile flew 489 miles on a trajectory reaching an altitude of 1,312 miles, KCNA said.More news: Trump denies asking Comey to stop Flynn probe
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But on Tuesday, a North Korean diplomat defended its recent missile test-launch, telling the UN Conference on Disarmament it was a legitimate act of self-defence under global law.
"We consider (the missile test) counter-productive, harmful and risky", Putin told reporters after an global forum in Beijing.
After being fired from a launch pad in the Kusong region early on Sunday, the projectile travelled around 500 miles before dropping into the Sea of Japan.
Newly elected President Moon Jae-in said the South had to "learn to say 'no, '" to the US and to exhaust diplomatic ways of resolving issues with the North.
The statement also condemned an April 28 ballistic missile launch by Pyongyang.
Putin joins China and new South Korean president Moon Jae-in in calling for talks with the North.
There's also skepticism about North Korea's claims about its re-entry technology, which is needed to return a warhead to the atmosphere from space so it can hit its intended target.