You are the leaders of your prospective country. What leadership action/views would you take?

That is a definite yes, they aren't rattling sabres they are detonating nuclear bombs and test firing mid to long range missiles the Peoples Republic of North Korea is the greatest threat to the planet and life as we know it.
North Korea should have been shut down a long long time ago, unfortunately it did not posess any assets that the US required to maintain its dominance on the global economy so it was left to fester in its own juices.
Clare

Yes. However the leadership against North Korea is very poor. WE have Japan who is sworn to peace having beed nuked in the past. South Korea who would do almost anything to bribe North Korea to keep them quiet and we have President Obama who is fast following Mr Neville Chamberlain in poor international policy (selling out your allies to the bad guys).
James

When the American government described Iraq & N Korea as being in an axis of evil the Iraqis demonstrated that they had no weapons of mass destruction & got invaded. The Koreans went out of their way to pretend they did have them. I don't think they believe they have any choice but to arm themselves.
Matthew

Thank you for your comments all, but don't worry about it guys. Obama has responded to the threat by upgrading his rhetoric from "grave concern" to "very grave concern". That'll stop them in their tracks.

North Korea is not producing arms to protect themselves-they are doing it because of Kim Jong Il's desire to boost his image at home and pretend that everything is perfect in his country. It is naive in the extreme to think that they would get rid of their weapons if other countries do.
Sally