U.S. and South Korea to Have Joint Naval Exercises

The US has confirmed it will hold naval exercises with South Korea, after a report blamed the North for the sinking of a Southern warship, officials say.

The Pentagon said the joint anti-submarine and other military exercises would start "in the near future".

South Korean President Lee Myung-bak earlier froze trade with Pyongyang, vowing to punish those who carried out the attack.

North Korea has said it will retaliate for any action taken against it.

The country's main newspaper called the investigation an "intolerable, grave provocation".

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