North Korea has test-launched two short-range missiles near the east coast of the Korean peninsula, South Korea’s joint chiefs of staff (JCS) have announced.

Fired from the central province of North Hwanghae bordering South Korea, the missiles flew roughly 500km before falling into the sea near the coastal city of Wonsan, Yonhap news agency reported.

The JCS was quoted by the news agency as saying: "The military is keeping close tabs on the situation and stands ready to deal with any North Korean provocations."

The North Korean Central News Agency (KCNA) has claimed that the country is in possession of miniaturised nuclear warheads to be used on ballistic missiles, CNN reported.

"The military is keeping close tabs on the situation and stands ready to deal with any North Korean provocations."

Last week, the UN Security Council unanimously adopted Resolution 2270, imposing sanctions on North Korea.

The move follows the recent launch of a missile claimed to be an earth observation satellite, which violated the UN’s protocol.

The resolution includes mandatory cargo inspections, prohibitions on aviation fuel and rare minerals, and an embargo on weapons trading with the Democratic People’s Republic of Korea (DPRK).

It also banned the import of luxury watches, jet skis and snowmobiles from the country.

The resolution is said to be the toughest set of sanctions enforced by the council in more than two decades.