On July 4, 2017, North Korea launched an intercontinental ballistic missile. Washington called for a global response, and the United Nations Security Council met July 5 on the DPRK launch. Offering insight into the politics surrounding the launch and possible responses is Korea Society Chairman and former United States Ambassador to the Republic of Korea Thomas Hubbard. Offering insights into market impacts is Korea Society President Thomas Byrne, formerly with Moody’s. This rapid reaction report is moderated by senior director Stephne Noerper and produced by Peter Stuehmke.