Undated file Google satellite photo shows the launch pad in Tongchang-ri base, Cholsan County, North Phyongan Province, the Democratic People's Republic of Korea (DPRK). Media reports said the Democratic People's Republic of Korea has launched an earth observation satellite on April 13, 2012. (Xinhua/Zhang Li)？

SEOUL, April 13 (Xinhua) -- The Democratic People's Republic of Korea (DPRK)'s rocket launch will only have a limited and transitory impact on South Korea's financial markets, the global credit rating agency Moody's said Friday.

"The test demonstrates the 29 February agreement with the Obama administration was a false dawn for a brighter future for the DPRK and an easing of geopolitical tensions on the Korean Peninsula," Thomas Byrne, senior vice president at Moody's Oakley Eyepatch 2 Sunglasses, said in an email interview with Xinhua.

Byrne said that things are back to the way they were before Feb. 29. "As such, we have noticed and expect that market volatility in Seoul will be limited and transitory," he said.

The DPRK fired the Unha-3 rocket on Friday morning, but the rocket dropped several minutes after takeoff, and broke into several pieces before falling into the sea, according to the South Korean finance ministry.

The DPRK's official KCNA news agency confirmed Friday that a satellite, launched by the Unha-3 rocket, had failed to enter orbit.

South Korea's monetary and financial authorities tried to prevent the possible negative impacts from the DPRK's rocket launch. The Financial Services Commission (FSC) said in a statement that the rocket launch was nothing to worry about, stressing that the event risk was already priced in the market when the launch plan was announced last month.

"As seen in geopolitical risks mounting on the peninsula in the past, our financial market recovered rapidly from the risks within three to seven days. The financial market seemed not to be influenced by the event for now, but we are watching what will happen very closely and cautiously," Bank of Korea (BOK) Governor Kim Choong-soo told reporters.

Related:

DPRK satellite fails to enter orbit: KCNA

PYONGYANG, April 13 (Xinhua) -- An earth observation satellite launched by the Democratic People's Republic of Korea (DPRK) earlier Friday morning failed to enter orbit, and scientists and technicians are now looking into the cause of the failure, the official KCNA news agency reported.Full story

White House says Obama prepared to engage constructively with DPRK

WASHINGTON, April 12 (Xinhua) -- The White House said on Thursday that U.S. President Barack Obama has made it clear that he is prepared to engage constructively with the Democratic People's Republic of Korea (DPRK).Full story

White House says DPRK's rocket launch threatens regional security, violates international law

WASHINGTON, April 12 (Xinhua) -- The White House said on Thursday that the rocket launch by the Democratic People's Republic of Korea (DPRK) threatens regional security and violates international law.Full story

UN Security Council to meet on DPRK's rocket launch

UNITED NATIONS, April 12 (Xinhua) -- The UN Security Council is scheduled to meet in an emergency session on Friday morning in response to the alleged rocket launch by the Democratic People's Republic of Korea (DPRK), diplomats said here late Thursday.Full story

S Korea says DPRK's failed rocket launch breaches UN ban

SEOUL oakley sunglasses wholesale, April 13 (Xinhua) -- South Korean Foreign Minister Kim Sung-hwan said Friday the Democratic People's Republic Korea (DPRK) will have to "take responsibility" for the failed long-range rocket launch, which breached a UN ban.Full story

DPRK rocket wreckage falls into sea: S.Korean defense ministry

SEOUL, April 13 (Xinhua) -- The wreckage of a rocket launched by the Democratic People's Republic of Korea (DPRK) fell into waters about 190 to 210 km west off Gunsan, South Jeolla Province of South Korea, the South Korean defense ministry said Friday morning.Full story

U.S. media says DPRK rocket launch "failed"

WASHINGTON, April 12 (Xinhua) -- U.S. media on Thursday evening quoted official sources as saying rocket launch by the Democratic People's Republic of Korea (DPRK) has failed.Full story

DPRK Foreign Ministry asks foreign journalists to gather at hotel

PYONGYANG, April 13 (Xinhua) -- The foreign ministry of the Democratic People's Republic of Korea (DPRK) on Friday morning asked foreign journalists to gather at the Yanggakdo international hotel.Full story

DPRK launches rocket

SEOUL, April 13 (Xinhua) -- The Democratic People's Republic of Korea (DPRK) launched a long-rang rocket, South Korean media reported Friday.

Both the Yonhap news agency and YTN TV channel reported the launch, which was also confirmed by the United States, according to CNN.？Full story

DPRK puts rocket on pad for satellite launch

TONGCHANG-RI, DPRK, April 8 (Xinhua) -- The rocket for the planned satellite launch later this month by the Democratic People's Republic of Korea (DPRK) has been installed on the launch pad, Xinhua correspondents saw at the launch site Sunday.Full story

Foreign reporters arrive in Pyongyang to cover satellite launch

PYONGYANG, April 7 (Xinhua) -- Some 30 foreign reporters from around the world are in the Democratic People's Republic of Korea (DPRK) capital to cover the country's satellite launch, the official news agency KCNA reported Saturday.Full story

Interception of satellite launch act of war: DPRK official

PYONGYANG, April 5 (Xinhua) -- An official of the Democratic People's Republic of Korea (DPRK) said Thursday that interception of the country's satellite launch constitutes an act of war, the official news agency KCNA reported.Full story

DPRK vows not to give up planned satellite launch

PYONGYANG, March 27 (Xinhua) -- The Democratic People's Republic of Korea (DPRK) said Tuesday that it would never give up its planned satellite launch which is for peaceful purposes.Full story

KCNA: DPRK's satellite launch not contradictory to DPRK-U.S. Agreement

PYONGYANG Oakley Jupiter Squared black Sunglasses, March 19 (Xinhua) -- The Democratic People's Republic of Korea(DPRK) asserts that planned launch of Satellite Kwangmyongsong-3 not contradictory to DPRK-U.S. Agreement, the official news agency KCNA reported Monday.