US Secretary of State Rex Tillerson has said that North Korea's firing of an intercontinental ballistic missile (ICBM) posed a significant threat and has called for global action to counter Pyongyang's belligerence.

North Korean media reported Kim Yong-Un as saying the missile was a "gift" to "American Bastards" for 4 July, American Independence Day.

The Korea Central News Agency cited Kim as saying that the US "attempts to test our determination and ignores our warnings" and that "we should send them gifts once in a while to help break their boredom".

Earlier, Tillerson condemned the launch which he described as a "new escalation of the threat to the United States, our allies and partners, the region, and the world".

"Global action is required to stop a global threat." The Secretary of State went on to say, before adding that any county helping benefit North Korea at all was "aiding and abetting a dangerous regime."

"All nations should publicly demonstrate to North Korea that there are consequences to their pursuit of nuclear weapons.

"We intend to bring North Korea's provocative action before the UN Security Council and enact stronger measures to hold the DPRK accountable." the statement read.

The US "seeks only the peaceful denuclearization of the Korean Peninsula and the end of threatening actions by North Korea", Tillerson continued, "As we, along with others, have made clear, we will never accept a nuclear-armed North Korea."

Reports said that the missile flew over 900km duirng a 40 minute flight before possibly landing in waters of Japan's exclusive economic zone.

The test is thought to have been North Korea's most successful yet, in a year where the country has flaunted consistent denouncements and continued testing missiles.

US officials think Pyongyang may now be able to fire a missile to Alaska although experts say it cannot accurately hit a target. The US asked for an urgent meeting of the UN Security Council which is expected to take place on Wednesday (5 July).

Donald Trump tweeted soon after the launch saying: "Does this guy have anything better to do with his life? Hard to believe that South Korea and Japan will put up with this much longer. Perhaps China will put a heavy move on North Korea and end this nonsense once and for all!"