North Korea fires missiles, to ‘liquidate’ South Korean assets

North Korea fired two short-range ballistic missiles into the sea on Thursday in defiance of U.N. Security Council resolutions, as South Korean and U.S. forces conducted massive war games.

The North also announced it had scrapped all agreements with the South on commercial exchange projects and would “liquidate” South Korean assets left behind in its territory.

North Korea has a large stockpile of short-range missiles and is developing long-range and intercontinental missiles as well. Thursday’s missiles flew about 500 km (300 miles) into the sea, off the east coast city of Wonsan and probably were part of the Soviet-developed Scud series, South Korea’s defence ministry said.

Japan, within range of the longer-range variant of Scud missiles or the upgraded Rodong missiles, lodged a protest through the North Korean embassy in Beijing, Japan’s Kyodo news agency reported.

A Pentagon spokesman, Commander Bill Urban, said on Thursday the U.S. Defense Department was aware of the reports of the missile launches. “We are monitoring the situation closely,” he said.

North Korea often fires short-range missiles when tensions rise on the Korean peninsula. Pyongyang gets particularly upset about the annual U.S.-South Korea drills, which it says are preparations for an invasion.