This March 25 file photo provided by the North Korean government shows what it says a test fire of newly developed new-type tactical guided projectile by the Academy of Defense Science, at an undisclosed place in North Korea. North Korea could have up to 242 nuclear weapons and dozens of intercontinental ballistic missiles by 2027, a research report said Tuesday. AP

North Korea could have up to 242 nuclear weapons and dozens of intercontinental ballistic missiles (ICBMs) by 2027, a research report said Tuesday, calling for South Korea and the United States to weigh "all options" to counter the evolving threats.

The Asan Institute for Policy Studies and the Rand Corp. made the estimate in a joint report, stressing "serious" considerations should be given to deploying tactical nuclear arms in the South and other measures to deter the North's possible attempt at nuclear warfare.

The report came amid signs of worrisome activity at the North's east coast shipyard seen as a site for submarine launched ballistic missile tests and after a U.N. panel report that Pyongyang continues to develop its nuclear and missile programs.

"It is estimated that the total number of North Korea's nuclear weapons by 2027 would be between 151 and 242, in addition to tens of mobile intercontinental ballistic missiles," the report, titled "Countering the Risks of North Korean Nuclear Weapons," said.

The report based its estimate on the amount of fissile material, such as plutonium and highly enriched uranium, which Pyongyang is believed to have produced. It cited such data as the U.S. intelligence community's estimate and other known analysis.