Kim, the minister, criticised White House National Security Adviser John Bolton for "relentlessly pouring out arguments like 'nuclear abandonment first, compensation after', Libyan-style nuclear abandonment, 'complete, verifiable and irreversible denuclearisation', and 'complete dismantlement of nuclear, missiles and biochemical weapons'."

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The statement said if Trump continued to follow the mistakes of his predecessors he would be recorded in history as a "more tragically unsuccessful president" and "far from his initial ambition to make unprecendented success".

The minister accused the US of a strategy of "forcing the destiny of the collapsed Libya and Iraq to our dignified state".

He also appeared to dismiss American offers of economic assistance - US Secretary of State Mike Pompeo has said American entreprenuers and capital would be sent to North Korea to rebuild its economy.

"The US is talking about giving us economic rewards and benefits if we give up nuclear weapons. We have never built economies with the expectation from United States and will never do such a deal in the future," his statement said.

North Korea has invited international media to attend the public dismantling of its main nuclear test site, and last week released three American prisoners whom Pompeo took back to the United States.

But the North Korean regime has repeatedly said it was willing to denuclearise if the United States and South Korea took simultaneous steps and offered a security guarantee.

This position, of North Korea needing a security guarantee, has previously been backed by China, where a North Korean delegation has been visiting this week.

China, a strategic rival to the US, has also offered economic assistance to North Korea. Kim Jong-un has held two meetings with Chinese President Xi Jinping in two months.

The Chinese Foreign Ministry said on Tuesday the North Korean delegation in Beijing had arrived to "learn about China's achievements in economic development and reform and opening-up".

China has made no official comment on North Korea's threat to call off the summit.

The KCNA report had said the Wednesday meeting was cancelled because the United States and South Korea had begun annual joint military drills.

An emergency meeting between the Commander of US Forces in South Korea Vincent Brooks and South Korean Defence Minister Song young-moo was held on Wednesday in the wake of North Korea's abrupt decision to cancel the Korean meeting.

"The exercise will proceed as planned, and regarding that, there are no differences between the South and US," the South Korean Defence Ministry said.

The ministry said the exercise with 100 aircraft was "not an implementation of an operational plan or an attack maneuver".

The Yonhap news agency cited sources saying American B-52 bombers may not join the drill as a result of North Korea's walkout. KCNA had called the"Max Thunder" air combat drills a "provocation"

Former US defence secretary William Perry, who defused a crisis between the US and North Korea in 1994 , wrote on Twitter: "Today’s announcement from North Korea threatening negotiations should remind us that there is no easy or quick path to success."