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North Korea carried out a launch of an unknown projectile toward the Sea of Japan – Yonhap

An unknown projectile was fired toward the Sea of Japan, South Korea’s Yonhap news agency said citing a statement from the Joint Chiefs of Staff.

"North Korea carried out a launch of an unknown projectile toward the Sea of Japan," the agency quoted the statement as saying.

No information about the type of the projectile is available so far. This was the fourth launch of this kind since the beginning of 2020. In December last year, North Korean leader Kim Jong-un announced that his country would soon roll out new strategic weaponry.

On March 21, Yonhap reported that North Korea had fired two short-range ballistic missiles on from its North Pyongan Province toward the Sea of Japan. According to North Korea’s news agency KCNA, the country’s leader Kim Jong-un also led long-range artillery exercises on March 2 and 9.

Market implications

This was the latest in an unprecedented flurry of launches that South Korea decried as "inappropriate" amid the global coronavirus pandemic, and is bound to stir up controversy between world leaders, although will have little bearing on markets immediately which are concentrated on the spread of COVID-19 and how the world economy is faring. 

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