South Korea on Wednesday test-launched a new ballistic missile that can hit all of North Korea, the president's office said, developed under a new agreement with the United States that lets Seoul extend the weapon's range to up to 800 km (500 miles).
We opened talks with South Korea on allowing them to build longer-range missiles in 2009 and in 2012 finalized that agreement.
South Korea has cruise missiles, too, as I note in this related post.
South Korea has the advantage compared to North Korea since North Korea needs longer-range missiles to threaten Japan and even longer ranges to strike American territory.
And with precision warheads, South Korea's missiles pose a threat to North Korea's assets and leaders.