Translation, as reported by the Washington Post via NK News:
"Last night, I had such a wonderful dream. I found myself rising high into space riding the “Eunha 9” rocket. In happiness and excitement, the spaceship “Kwangmyungsong 21” separated, and was flying into the grand and endless space.
From onboard, I could see beautiful colors and stark contrast [of the outside]. I was about to press the button to take a picture as I was heading toward our perfectly green earth, a shining star in the midst of the darkness.
Suddenly, through the camera lens, the image of the unification flag blowing over our one unified country crops up. Even I weep as I hold tightly to that camera, concerns rushing over me.
In America, I can see black smoke. It seems like the devil’s nest that habitually caused wars of invasion and persistence are finally burning under the flames it itself has ignited.
The free and peaceful world and the magnificent and awe-striking space seem to be blessing our spaceship “Kwangmyungsong 21.”
Dear viewers, think about this. Korea’s spaceship flying through space, to the backdrop of the brightly-lit sun and space.
I am certain that my dream will come true. Even the complete ending of the imperialists schemes. Seeing our Bakedu Mountain country prospering strongly under reunification, they will not be able to prevent our people from going forward towards a final victory."

http://www.washingtonpost.com/blogs/worldviews/wp/2013/02/05/that-crazy-north-korean-video-of-new-york-blowing-up-now-with-english-subtitles/