NORTH Korea has threatened "thousands-fold" revenge against the United States for banning exports worth $1billion following its intercontinental ballistic launches.

Crackpot leader Kim Jong-un is demanding "justice" over Donald Trump's attempts to "isolate and stifle" his country with ban on exporting coal, iron, lead and seafood.

5 Kim Jong-un celebrates with his generals after the latest Hwasong-14 missile test Credit: EPA

The tough new U.N. sanctions could slash North Korea's $3 billion annual export revenue by a third.

State-controlled media carried a statement from the North that promised the move would never force the country to negotiate over its nuclear program - or to give up its nuclear drive.

It says it will take "action of justice" but didn't elaborate.

It's after US President Donald Trump and South Korean President Moon Jae-in agreed to apply maximum pressure and sanctions on North Korea in a telephone call on Monday.

The U.N. Security Council unanimously imposed new sanctions on North Korea on Saturday aimed at pressuring Pyongyang to end its nuclear programme.

The U.S.-drafted resolution bans North Korean exports of coal, iron, iron ore, lead, lead ore and seafood following Pyongyang's two intercontinental ballistic missile tests in July.

5 State-run media released this image of the deadly long-range rocket taking off Credit: EPA

5 A US Air Force B-1B bomber, top, flies with South Korean fighter jets Credit: AFP or licensors

5 North Korea slammed the move to send the bombers to the Korean Peninsula Credit: AFP or licensors

It also prohibits countries from increasing the current numbers of North Korean labourers working abroad, bans new joint ventures with North Korea and any new investment in current joint ventures.

North Korea denounced the sanctions, saying they infringed on its sovereignty and vowed to take "righteous action", according to the North's official news agency.

Pyongyang would never place its nuclear programme on the negotiating table as long as the United States maintained a hostile policy against the North, the government statement reported by KCNA said.

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Foreign Minister Ri Yong-ho called new UN sanctions "fabricated" and warned there would be "strong follow-up measures" and acts of justice.

In a statement he said the resolution showed the United Nations had abused its authority and that North Korea was ready to give America a "severe lesson" with its strategic nuclear force if it takes military action against it.

It said its intercontinental ballistic missile tests in July proved that the entire United States was in its firing range, and those missiles were a legitimate means of self-defence.

5 The US and South Korea test fire missiles during a training exercise Credit: Handout - Getty

U.S. Secretary of State Rex Tillerson said the support of China and Russia for the latest sanctions sent a strong message to North Korea about what was expected of it.

Tillerson said: "When the conditions are right then we can sit and have a dialogue around the future of North Korea so they feel secure and prosper economically.

"The best signal that North Korea can give us that they are prepared to talk would be to stop these missile launches."

North Korea has long accused the United States and South Korea of escalating tensions by conducting military drills. North and South Korea are technically still at war because their 1950-53 conflict ended in a truce, not a peace treaty.

During an hour-long phone call, Moon and Trump said they would continue cooperating to rein in North Korea, particularly ahead of a regular joint military drill set for late August, South Korean presidential office spokesman Park Su-hyun told a media briefing.

North Korean Leader Kim Jong Un signs the order to carry out the test-fire of inter-continental ballistic rocket Credit: Reuters

Moon was also cited as saying there was a need to show North Korea the door to dialogue is still open, should Pyongyang give up its nuclear programme.

In a separate statement, the White House said the two leaders "affirmed that North Korea poses a grave and growing direct threat" to most countries around the world.

In a Twitter post, Trump said he was "very happy and impressed with 15-0 United Nations vote" on the sanctions.

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