'A massive rescue operation was underway this evening to save the crew of a South Korean navy ship feared to have been hit by a North Korean torpedo.
 
Several of the 104 crew were reported to have been killed and others are missing from the ship which sunk in waters near Baengnyeong island, close to the disputed maritime border between the two Koreas.
 
South Korea's president President Lee Myung-bak convened an emergency meeting of security ministers amid concerns the incident could become the flashpoint to draw the countries closer to renewed conflict.'

Read more: N Korea Torpedoes, Sinks Large S Korean Navy Ship