Pyongyang is preparing for ballistic missile launch: Media

The Democratic People's Republic of Korea (DPRK) appears to be preparing to test-launch its longest range ballistic missile, media reports said yesterday, stoking tensions just days after Pyongyang warned that the Korean Peninsula was on the brink of war.

The DPRK last week scrapped all agreements with the Republic of Korea (ROK), a move analysts said was in response to Seoul's tough policies toward Pyongyang as well as designed to grab the attention of US President Barack Obama.

Financial market analysts in the ROK brushed off media reports about the possible test of the Taepodong-2 missile, which is designed to eventually have a range long enough to hit US territory.