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North Korea is reportedly preparing for a new round of provocative weapons displays, including long-range missile tests and a spy satellite launch, as it seeks to support its fragile economy. The country’s chronic economic hardships, exacerbated by the COVID-19 pandemic and U.N. sanctions, have led to record levels of missile tests. These tests are suspected to be funded by illegal cyber activities and covert exports of banned items.

According to South Korea’s National Intelligence Service (NIS), North Korea’s economy has been shrinking each year since 2020, with its GDP 12% less in 2021 compared to 2016. Experts believe that the current food shortages and economic troubles in North Korea are the worst since Kim Jong Un came to power in 2011, but there are no signs of an imminent famine or major public unrest.

The NIS revealed that North Korea has been secretly exporting an estimated 1.7 million tons of coal, marking a more than 300% increase from the previous year, and 580 kilograms (1,280 pounds) of gold, a 50% increase, both in violation of U.N. sanctions. It is also estimated that North Korea has stolen more than .5 billion in virtual assets since 2015.

In addition, the NIS reported unusual heavy activities at a facility related to the production of solid-fueled intercontinental ballistic missiles, as well as another site associated with liquid-fueled ICBMs. There are indications that North Korea may also attempt to launch a spy satellite in late August or early September to commemorate the country’s 75th anniversary.

Kim Jong Un has expressed his intent to develop high-tech weapons systems, including a military reconnaissance satellite, in response to perceived U.S. military threats. North Korea has conducted over 100 weapons tests since the beginning of 2022, citing the need to strengthen its own military capabilities in response to joint U.S.-South Korean exercises.

While North Korea has demonstrated the potential range of its ICBMs to reach the U.S. mainland, analysts believe that it still faces technological challenges. The country’s shorter-range missiles are capable of targeting South Korea and Japan.

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