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The ability to successfully deploy a satellite in orbit is a step towards producing an ICBM, whether that's the intended purpose or not. From there the key issue is the miniaturization of a nuclear warhead after which the DPRK essentially has a globally deployable nuclear weapon.

With enough weapons grade fissile material for an estimated 8-12 warheads, it hardly creates any sort of parity among other nuclear armed states, but it would still be considered an alarming, globally destabilizing development.