Any such launch would invite fresh international sanctions and jeopardise a reunion being organised with South Korea of families divided by the 1950-53 Korean War.
The North insists its rocket launches are intended to put peaceful satellites into orbit, while the US and its allies see them as disguised ballistic missile tests.
In an interview with the state-run KCNA news agency yesterday, the director of the North's National Aerospace Development Administration said Pyongyang was in the "final phase" of developing a new geo-stationary satellite.
Space development is a sovereign right that North Korea intends to exercise "no matter what others might say about it," he added.
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He made no mention of any specific schedule, but there has been widespread speculation that the North might launch a satellite to mark the 70th anniversary of the Workers' Party founding on October 10.
Expert analysis of recent satellite images suggest North Korea has completed upgrades at its main Sohae satellite launch site.
However, the same analysts have stressed that none of the satellite images examined so far have shown activity to suggest a rocket launch might be imminent.
North Korea is banned under UN Security Council resolutions from carrying out any launch using ballistic missile technology, although repeated small-range missile tests into the sea have gone unpunished.
The Unha-3 launch nearly three years ago resulted in fresh sanctions and a surge in military tensions that culminated three months later in the North conducting its third nuclear test.