South Korean President said on Thursday that Pyongyang is in the "final stage" of developing an intercontinental ballistic missile, which could attack the United States with nuclear weapons.
Seoul and its Western allies have failed to stop North Korea's weapons program, and Pyongyang has stated it will never give up its nuclear arsenal.
"Whether for gaining influence in negotiations with the United States or for protecting its regime, North Korea has been developing intercontinental ballistic missiles capable of carrying nuclear warheads," said President Lee Jae-yong during a visit to the New York Stock Exchange.
He said, "It seems not yet successful, but it is said to be in the final stage, with only re-entry technology remaining, which appears to also be solvable."
Since taking office in June, Lee Myung-bak has shifted from the hawkish stance of his predecessor, vowing to improve relations with North Korea.
During his speech in New York, he said, "The goal should be to freeze nuclear development, intercontinental ballistic missile development, and exports."
He stated that halting further production and development of nuclear weapons would bring "significant security benefits."
The South Korean president estimated that his northern neighbor is producing enough material to "increase 15 to 20 nuclear warheads annually."
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