A former national basketball captain and the North's sole International Olympic Committee member, Chang stressed that so-called sports diplomacy takes months of painstaking preparations and political coordination.
In his address, Moon spoke of his hopes for sportive and political reconciliation between his country and North Korea.
Chang also ruled out the possibility of using venues in the North to co-host the February 9-25 Winter Games and dismissed the notion that a unified team would help improve ties by saying: "The Olympics should not be used for a political aim".
"I also thank the Indian people for their contributions to the effort in Afghanistan, and for joining us in applying new sanctions against the North Korean regime".
The two sides have played in the same team before - at the 1991 World Table Tennis Championships.
He was speaking after South Korea's sports minister Do Jong-Hwan was quoted as saying some skiing events for the 2018 Pyeongchang Olympics could be held in North Korea, although officials insist he was misunderstood. If he does act against North Korea soon, Trump would have broken another hex that past Democrat and Republican administrations have been unable to beat.
This inter-Korean sports exchange is a small breakthrough that analysts say could open the door to further cooperation.
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After a round of Taekwondo demonstrations, the team is expected to leave South Korea this Saturday.
A brutal conflict to reunify the peninsula ensued and USA -backed forces have remained officially at war with the DPRK since an armistice was signed on July 27, 1953.
In return, North Korea warned the USA about its recent military drills with South Korea as well as its missile defense system, the Terminal High Altitude Area Defense system (THAAD), installed in South Korea in April.
"The Kim Jong-un regime must step forward to achieve the denuclearization on the peninsula and respect human rights", the Premier added.
His initiative is praiseworthy and must include a clause that North Korea must put an end to its nuclear ambitions and shelve its plans of launching ICBM targeting the United States.
To resolve the issue, Zhang Tuosheng, a foreign policy analyst with the Beijing-based China Foundation for global and Strategic Studies (CFISS), urged South Korea and the U.S.to take measures to reassure China about its legitimate security concerns.
It also shows that North Korea attaches great importance to direct negotiations with the United States instead of six-nation talks chaired by China. North Korea did not take part in the 2014 Winter Olympics in Sochi, Russia.