Amid condemnation in Seoul, Tokyo and Washington, a jubilant North Korean leader Kim Jong Un promised more nuclear and missile tests and warned his country's weapons could strike the US mainland and Pacific holdings.
Contained in the nonbinding press statement, which has to be approved by all members, is the emphasis the council places on the vital importance of the North "immediately showing honest commitment to denuclearization through concrete action" and the need to reduce tensions on the Korean Peninsula.
The members also "reiterated the importance of maintaining peace and stability" on the Korean Peninsula.
In a unanimous statement, the United Nations Security Council said it would take strong measures in response to what it described as North Korea's "highly destabilizing behavior and provocative defiance".
Asked if North Korea's missile programme was developing faster than the South had expected, he said: "Yes".
The Security Council has adopted six increasingly tougher sanctions resolutions against North Korea.
Pyongyang has conducted two nuclear tests and dozens of missile launches since the start of 2016, prompting the United Nations to adopt two sanction resolutions previous year to ramp up pressure on North Korea.
A closed-door emergency Council session was set for Tuesday.
"That is because we must have many relations to pursue with the North, and engage in dialogue", Lee said.
A missile is being launched from an undisclosed location in North Korea on Sunday.
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Speaking to reporters during his visit to China, Putin said Monday that "there's nothing good about" the launch.
The Russian Defence Ministry said on Sunday that the missile crashed into the Sea of Japan around 500 km (310 miles) off the Russian coast.
North Korea's long-term bid to develop a credible nuclear attack threat to the United States mainland saw it launch Sunday what appeared to be its longest-range missile yet.
The South Korean official also said Pyongyang's public announcement of the missile test was "not appropriate".
On Monday, North Korean state media showed photos of Kim Jong Un laughing and hugging his rocket scientists after the launch, which he personally oversaw, the report said.
DPRK are the initials of North Korea's official name, the Democratic People's Republic of Korea.
What has North Korea been saying?Beijing is wary of piling on economic pressure that could cause North Korea's collapse, and it wasn't clear Monday if it would support new sanctions.
The North has been working on a missile, mounted with a nuclear warhead, capable of striking the US mainland.
It said the newly developed Hwasong-12 flew as high as 2,111 kilometers (1,310 miles) before landing in a targeted area in the ocean about 787 kilometers (490 miles) from the launch site.
North Korea said it fired the missile at a high angle to avoid neighboring countries.