South Korea rules out navy ship sunk by North Korea

[Adsos Letter]

Source: Reuters

BAENGNYEONGDO, South Korea (Reuters) – South Korea on Saturday all but ruled out the chance that North Korea was involved in the sinking of one of its navy vessels near their disputed border.

Initial speculation that North Korea might have sunk the ship had spooked Wall Street on Friday. Share prices dipped partly on geopolitical concerns, and the won dropped against the dollar.

"Given the investigations by government ministries so far, it is the government's judgment that the incident was not caused by North Korea, although the reason for the accident has not been determined yet," a senior government official was quoted as saying by Yonhap news agency.

A Reuters reporter on Baengnyeongdo island near where the ship sank said about 10 navy and coastguard vessels, along with divers, were searching the area and the wreckage.


Read more: http://news.yahoo.com/s/nm/20100327/ts_nm/us_korea_ship