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March 25, 2022

North Korea tests new type of intercontinental ballistic missile

The Hwasongpho-17 ICBM reached an altitude of 6,248.5km and travelled a distance of 1,090km.

North Korea has test-fired a new type of intercontinental ballistic missile (ICBM) called Hwasongpho-17, a move that drew international condemnation.

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This is the reclusive country’s first full ICBM test since 2017.

State-owned news agency KCNA said that the test was ordered by North Korean leader Kim Jong Un as it will serve as a key weapon system to deter nuclear war in the future.

The Hwasongpho-17 was launched from a site near Pyongyang International Airport and it reached an altitude of 6,248.5km and travelled 1,090km before finally hitting a pre-selected area in open waters of the East Sea.

According to KNCA, the statement added: “The test-launch clearly proved that all the parameters of the weapon system exactly met the design requirements and that its prompt operation can be guaranteed scientifically, technically and practically under wartime environment and conditions.”

The new ICBM was first unveiled by North Korea in 2020 during a military parade, Reuters reported. The missile was larger than the Hwasong-15, which was tested in November 2017.

The latest test was condemned by the US, South Korea and Japan.

In a statement, the US Indo-Pacific Command said: “We are aware of the DPRK’s ballistic missile launch today and are consulting closely with the Republic of Korea (ROK) and Japan, as well as other allies and partners.

“The US condemns these actions and calls on the DPRK to refrain from further destabilising acts.”

North Korea has significantly increased missile testing this year.

Earlier this year, the reclusive nation tested the Hwasong-12 intermediate-range ballistic missile (IRBM).

Meanwhile, the US increased surveillance and reconnaissance collection in the Yellow Sea in response to the increasing number of missile launches.

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Free Report
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What is driving and impacting South Korea’s Defense Market?

South Korea’s defense budget is currently valued at $48.3 billion after experiencing impressive and robust annual growth of 10.5% in 2022. Over the forecast period, South Korean defense expenditure is anticipated to register a strong CAGR of 6.3% over 2023-27 and reach $66.2 billion by 2027. The country’s acquisition budget, which includes research and development (R&D) funding, is also anticipated to register significant growth, projected to reach $21.6 billion in 2027, seeing significant rise from the anticipated $17 billion in 2023. South Korean defense spending is continuing to be fueled by the country’s hostile relationship with North Korea, coupled with the need to develop its own domestic industry. If you want to strategize successfully off this growing market, it is important to be fully informed. This report’s key findings include:
  • Details on the defense budget
  • Drivers of defense spending
  • Key trends impacting the market
Download the full report so you can formulate winning strategies for the road ahead.
by GlobalData
Enter your details here to receive your free Report.

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