Interesting situation. Do we redefine the current magnetic south-pole phenomena to maintain the present compass and mapping infrastructure (in other words, the current south-seeking needle becomes the new north-seeking needle) or do we redefine our maps and naming to follow the current compass infrastructure. (The compass will now point south instead of north, so therefore the current South Pole becomes the new North Pole.)

Almost certainly, we will choose the first option, as it permits the least number of changes. We wouldn't be stupid enough the maintain the compass so that the North Magnetic Pole is located close to the Earth's South Pole in Antarctica. Or would we??