North Korea has officially announced that it is preparing to launch a rocket.

The North’s Korean Committee of Space Technology said Tuesday that full preparations are under way to launch its “Gwangmyeongseong Two” satellite on its rocket “Eunha Two.”

A committee spokesman said preparations are being made at a launch site in Hwadae County in North Hamgyeong Province.

The committee says a successful launch would help develop the North’s economy and space program.

The spokesman did not elaborate on when the launch might take place.

South Korea’s Defense Ministry said earlier this month that the North is preparing to launch a Daepodong Two long-range ballistic missile.