@LMS,
'Threat' has two components - 'capability' and 'intention'.
Capability: NK is a highly militarised state (in many ways similar to pre Great War Germany) but its conventional forces are at least a generation off the technology pace for the moment. So as set out above its reach is likely to be distinctly local. Nevertheless, it does appear to have an active nuclear programme which will only improve capability over time. Given the recent rocket (ahem: balistic missile) tests this must be considered a regional danger. As to asymetric attacks (ie an individual/small group with something nasty) I would say that they are quite capable.
Intention: This is where the real worry comes from, NK is led by an immature (in terms of international statesmanship) absolute ruler who has grown up the subject of a personality cult. That is a recipe for capricious and possibly irrational decision making.
Separately, geographically the region is a four way friction point between Russia, Japan, China and Korea. So rather like the Falkland Islands the whole thing has the potential to eurpt out of nowhere on a Friday afternoon when you are looking the other way.
I would just second the point above about the supply of goods, but say it is not just 'tat', but also important electronic components vital for computing/communication/telephone equipment.
EG
Last edited by ExGrunt; 29th Mar 2013 at 08:57.