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N Korea at crossroads

North Korea missile tests cost 2% of GDP already this year: report

Pyongyang conducts record number of test launches with 33 rockets fired

North Korea has been developing the Hwasong-17, an intercontinental ballistic missile capable of hitting any target in mainland U.S. (KCNA via Kyodo)

SEOUL -- North Korea has spent as much as $650 million, or 2% of its gross domestic product, so far this year on 17 rounds of missile tests, according to a state-backed South Korean think tank.

The Korea Institute for Defense Analyses (KIDA), affiliated with the Ministry of National Defense, analyzed the 33 ballistic missiles and cruise missile fired on 17 occasions since January. The group estimates Pyongyang spent between $400 million and $650 million on the launches.

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