The missile launch comes ahead of the crucial meeting between President Donald Trump and his Chinese counterpart Xi Jinping in Florida tomorrow during which the two leaders are expected to discuss a range of global issues, including North Korea's nuclear ambitions.
Launched at 6:42 a.m. local time, the projectile was reported to have traveled around 37 miles, according to South Korean Defense Ministry officials cited by CNN.
The KN-15 name reportedly indicated the use of solid-fuel in the rocket, which makes it harder to track because of shorter launch preparation times.
"China leaders' summit since the launch of the Trump administration, we view it as an important opportunity toward resolving the North Korea nuclear issue", said Cho June-hyuck, the spokesman of the South Korean Ministry of Foreign Affairs, on Tuesday.
North Korea attempted to launch a ballistic missile two weeks ago from its east coast and earlier in March fired four missiles towards Japan, some of which came as close as 300 km (190 miles) to its coast.
A nuclear-capable SLBM system would take the North's threat to a new level, allowing deployment far beyond the Korean peninsula and a "second-strike" capability in the event of an attack on its army bases.
"North Korea launched yet another intermediate range ballistic missile." he said.
During Presidential race, Trump might have talked tough on China, but now Trump has softened his tone ahead of the meeting with Chinese President Xi Jinping on Thursday.
Beijing has suspended imports of North Korean coal through the end of the year, cutting off a key source of revenue for Pyongyang.
"It was very polite, they usually shoot more than one missile", he said.
The US Pacific Command said it detected and tracked what it assessed as a North Korean missile launched from land near the eastern city of Sinpo.
Some experts said that China may have beefed up surveillance along the border with North Korea in an expression of its anger against Seoul and Washington's ongoing deployment of an advanced USA missile defense system. While submarines are a stealthy way to do that, North Korea doesn't have enough of them.
North Korea s provocative missile launch Wednesday - barely 48 hours before the summit starts - will only accentuate differences over whether to confront or contain that recalcitrant regime.
The primary concern surrounding North Korea's weapons program is that Pyongyang could eventually equip long-range missiles with a nuclear warhead.
Xi will hope he is greeted by Trump the gracious host rather than the rhetorical bomb thrower who has spoken about China s "rape" of the U.S. economy and predicted a "very difficult" meeting with Xi.
North Korea fired a ballistic missile into the Sea of Japan, South Korea claimed on Wednesday morning.
Kim, the analyst, also said it's likely the North will continue to test-fire missiles over the next few months as it continues to pursue a reliable nuclear-tipped missile that can reach the mainland U.S.
Donald Trump's administration is ratcheting up its rhetoric against North Korea.
Crude Oil Prices Pare Gains, Inventory Hopes Dashed
Also, the production cuts made by OPEC countries made Dubai, an Asian benchmark, more expensive compared to the US counterpart. USA crude and oil product stocks probably fell last week after rising for two consecutive weeks, a Reuters survey showed.