It is the first missile launch by North Korea in the new year.

The Joint Chiefs of Staff (JCS) told Yonhap news agency it detected the launch from an area in or around Pyongyang at about 2:55 p.m., without providing further details, pending an analysis.

"While sharing information related to the launched 'North Korean missile' with U.S. and Japanese authorities, our military is maintaining a full readiness posture," the JCS said in a text message sent to reporters as quoted by the Southern Korean news agency.

Interestingly, IRBM puts the US territory of Guam within the range in case it is fired from Pyongyang.