South Korea welcomes the extension of a key nuclear arms control treaty between the United States and Russia, the foreign ministry said Thursday, expressing expectations that it would contribute to global peace and stability.

Washington and Moscow extended the New Strategic Arms Reduction Treaty, or New START, which was set to expire Friday, for five years, US Secretary of State Antony Blinken announced Wednesday. He said the extension makes "the US, allies and partners, and the world safer."

"Our government's assessment is that this agreement will contribute to the strengthening of the international nonproliferation regime based on the Nuclear Non-Proliferation Treaty, and global peace and stability," the ministry said in a press release.

"We also expect that based on this agreement, the countries will make progress in their discussions on crafting an arms control regime that befits the new international security environment," it added.

The treaty, which entered into force in 2011, limits each side to no more than 1,550 deployed strategic nuclear warheads; and 700 deployed intercontinental ballistic missiles, submarine-launched ballistic missiles and heavy bombers assigned to nuclear missions.

Before the extension, the expiration of the deal was feared to trigger a new arms race between the major powers. (Yonhap)