The two presidents discussed the recent visits to the south by high-level North Korean officials, the South Korean presidential Blue House said in a statement.
The Olympics gave a boost to recent engagement between the two Koreas after more than a year of sharply rising tensions over the North's missile programme and its sixth and largest nuclear test in defiance of U.N. sanctions.
"(Moon and Trump) agreed to continue to make efforts to head toward the Korean peninsula's denuclearisation by maintaining the momentum of South-North dialogue," the Blue House statement said.
In Washington, a White House statement on the two leaders' call said Moon briefed Trump "on developments regarding North Korea and inter-Korean talks" but did not elaborate.
"President Trump and President Moon noted their firm position that any dialogue with North Korea must be conducted with the explicit and unwavering goal of complete, verifiable, and irreversible denuclearisation," the White House said.
In sending an envoy to Pyongyang, Moon said he would be seeking to reciprocate for the senior delegations dispatched to the Olympics by Kim Jong Un, including his sister, Kim Yo Jong, the first visit by a member of the North's ruling bloodline since the 1950-53 Korean War.
Moon has urged North Korea and the United States to talk to resolve the issue of Pyongyang's weapons programme, which Kim has said he will never abandon.
In the latest attempt to defuse the crisis over North Korea's weapons programme, Seoul urged Washington and Pyongyang to give ground to allow for talks.
"Both leaders agreed to continue close consultations on the progress of South-North Korea dialogue that will go on," the statement said.
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