HYONHEE SHIN and JOSH SMITH NORTH Korea and South Korea test-fired ballistic missiles on Wednesday, the latest volley in an arms race that has seen both countries develop increasingly sophisticated weapons while efforts to get talks going on defusing tension prove fruitless. South Korea tested a submarine-launched ballistic missile, becoming the first country without nuclear weapons to develop such a system. South Korean President Moon was attending that test firing when word came of the North Korean launches, its first ballistic missile tests since March. North Korea fired a pair of ballistic missiles that landed in the sea off its…