Seoul, South Korea - South Korean President Lee Jae Myung vowed Friday to "respect" North Korea's political system and build "military trust," a day after Pyongyang said it had no interest in improving relations with Seoul.

Lee has vowed to reach out to the nuclear-armed North and pursue dialogue without preconditions since his election in June – a reversal from his hawkish predecessor.

Speaking at an event marking the anniversary of liberation from Japanese rule, Lee said the South Korean government "will take consistent measures to substantially reduce tensions and restore trust" with the North.

The August 15 anniversary of liberation from Japan is the only public holiday celebrated in both North and South Korea, according to Seoul's National Institute for Unification Education.

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"We affirm our respect for the North's current system," said Lee, adding Seoul had "no intention of engaging in hostile acts."

"I hope that North Korea will reciprocate our efforts to restore trust and revive dialogue," he said.

Lee's speech comes a day after North Korean leader Kim Jong Un's sister, Kim Yo Jong, said the North has "no will to improve relations" with the South.

She also denied reports that North Korea was removing propaganda loudspeakers.

The South's military said in June that the two countries had halted propaganda broadcasts along the demilitarized zone, adding last week that it had detected North Korean troops dismantling loudspeakers on the frontier.