China's foreign minister said on Sunday new U.N. Security Council sanctions on North Korea were the right response to a series of missile tests, but dialogue was vital to resolve a complex and sensitive issue, now at a "critical juncture".
Even a conventional conflict on the peninsula could could cost a million dead or wounded within months, estimates say.
They also backed efforts to improve relations between the two Koreas and said their 10-nation bloc was ready "to play a constructive role in contributing to peace and stability" on the Korean Peninsula.
South Korea's foreign minister joined her counterparts from the USA and Japan for a meeting in the Philippines in which Tillerson touted efforts to persuade nations to stop using North Korean labor.
"They're nearly going from sanctions to embargo and really trying to slam the North Korean economy", Delury said. Last month, it test-launched two intercontinental ballistic missiles capable of reaching the USA mainland.
The growing threat from the nuclear-armed North dominated the annual forum, which came days after the North's second ICBM test.
However Wang also emphasised that negotiations were the only way to solve the issue, after the United States had left open the possibility of military action against Kim Jong-Un's regime.
But Moon, in a phone conversation with Trump on Monday, urged calm and "peaceful and diplomatic resolution".
Tillerson also said that the USA has "other means of communication" open to North Korea if the regime wants to express to the US a desire to talk.
One day after council members voted unanimously for a partial ban on exports aimed at slashing Pyongyang's foreign revenue by a third, top diplomats from the key powers in the dispute met in Manila.
Trump hailed the vote, thanking Russian Federation and China for backing a measure that either could have halted with their United Nations veto.
After that he and his senior aides sat down first with Myanmar's minister of state for foreign affairs, Kyaw Tin, then with South Korea's Foreign Minister Kang Kyung-Wha.
The UN measures were implemented in order to make it harder for North Korea to make money across the globe.
The other mounting concern: that by the time the sanctions really start cutting into the North's economy, potentially changing the government's thinking about the wisdom of pursuing nuclear weapons, it may be too late.