Some analysts suggested Kim's comments opened a possible path to de-escalating a growing crisis fuelled by a bellicose war of words between US President Donald Trump and the North Korean leadership.
Their recent exchanges were focused on a North Korean threat to fire a volley of four missiles over Japan towards the US territory of Guam, which hosts a number of strategic military bases.
The North's official KCNA news agency said Kim was briefed on the "plan for an enveloping fire at Guam" during an inspection on Monday of the Strategic Force command in charge of the nuclear-armed state's missile units.
But Kim said he would "watch a little more the foolish and stupid conduct of the Yankees" before executing any order.
If they "persist in their extremely dangerous reckless actions on the Korean peninsula," then North Korea would take action "as already declared," he was quoted as saying.
"In order to defuse the tensions and prevent the dangerous military conflict on the Korean peninsula, it is necessary for the US to make a proper option first," he added.
De-escalating
Kim's remarks would appear to bring into play the large-scale military exercises held every year by South Korea and the United States that are expected to kick off later this month.
The North has always denounced the drills as provocative rehearsals for invasion and has in the past offered a moratorium on further nuclear and missile testing in exchange for their cancellation -- a trade-off promoted by Pyongyang's main ally China, but repeatedly rejected by Washington and Seoul.
Some analysts said Kim was seeking a similar quid-pro-quo this time around, using the Guam missile threat as leverage.
"This is a direct invitation to talk reciprocal constraints on exercises and missile launches," said Adam Mount, senior fellow at the Center for American Progress.
John Delury of Yonsei University in Seoul said Kim was "de-escalating, putting Guam plan on ice" -- at least for now.
"We are not out of the woods. Both sides need to keep taking steps to de-escalate in words and deed. Diplomacy needs to go in high gear," he added.
The United States and South Korea insist their annual joint exercises are purely defensive in nature and cannot be linked to the North's missile programme, which violates a host of UN resolutions.
Joshua Pollack, a senior research associate at the Middlebury Institute of International Studies at Monterey, said Pyongyang was using the Guam threat as "straight-up blackmail".
War of words
North Korea's military said last week that it would finalise by mid-August its detailed plan to test-fire four intermediate-range ballistic missiles in an "enveloping fire" around Guam and report it to its leader for approval.
Tensions have been mounting since the North tested two intercontinental ballistic missile tests last month, which appeared to bring much of the US within range.
Responding to the tests, US President Donald Trump warned Pyongyang of "fire and fury like the world has never seen".
The North in turn threatened to test-fire its missiles towards the US Pacific island of Guam.
The war of words has sparked global alarm, with world leaders including Chinese President Xi Jinping urging calm on both sides.
South Korean President Moon Jae-In also waded in on Monday, calling for calm in the standoff with North Korea, saying there should never be another war on the peninsula.
'We will defend'
US Defense Secretary Jim Mattis said on Monday the U.S. military would intercept a missile fired by North Korea if it was headed to Guam.
Mattis told reporters that the US military would know the trajectory of a missile within moments and would "take it out" if it looked like it would hit the U.S. Pacific territory.
"The bottom line is, we will defend the country from an attack; for us (US military) that is war," Mattis said.
He warned that an attack against the United States could quickly escalate into war, as he and Secretary of State Rex Tillerson moved to dial down tensions.
Mattis's comments came after they said in an opinion piece in The Wall Street Journal that America has "no interest" in regime change in Pyongyang or the accelerated reunification of the two Koreas, and stressed the importance of a diplomatic solution to the crisis.
The two statesmen decided to write the piece a couple of weeks ago, and it had not been in response to last week's heated rhetoric, Mattis said.
Mattis and Tillerson said the United States favors a diplomatic solution to the nuclear stand-off, especially with help from China, though they stressed diplomacy is "backed by military options."
Holding off attack
Pyongyang's official Korean Central News Agency (KCNA) reported that Kim Jong Un had examined plans to fire missiles near Guam, but made no move towards an immediate strike.
Instead he hinted he would hold off, saying he would "watch a little more the foolish and stupid conduct of the Yankees spending a hard time of every minute of their miserable lot".
Guam officials were "ecstatic" on Tuesday as North Korea appeared to back away from its threat to fire four missiles towards the US territory in the western Pacific.
"There doesn't appear to be any indication, based on what we're hearing, that there will be any missiles attacking in the near future or in the distant future," lieutenant governor Ray Tonorio said.
Guam Homeland Security adviser George Charfauros dismissed reports that satellite images showed North Korea moving a missile into place for a possible launch, saying it was likely "just a ruse".
"It is their Liberation Day... North Korea tends to use symbolism as part of their decision making," he said after CNN reported on the US spy satellite pictures.
"We are almost ecstatic that Kim Jong Un has backed off," he added.
Accidental emergency warnings
Guam residents received a nasty jolt on Tuesday after two radio stations accidentally issued emergency warnings to indicate an imminent threat or attack, at a time when the US territory is already on edge over North Korean threats to fire missiles into nearby waters.
Several concerned listeners were reported to have called police after the stations triggered the Emergency Alert Broadcast System, issuing "a civil danger" warning at 12.25am that was later confirmed to be a mistake.
"Residents and visitors are reminded to remain calm," said Guam’s homeland security adviser George Charfauros.
"There is no change in threat level, we continue business as usual."
Homeland Security confirmed in a statement that the "unauthorised test was not connected to any emergency, threat or warning" and it was working with the radio stations "to ensure the human error will not occur again".
