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Edition: U.S. Article Comments (9) Slideshow Video Save Email Print Reprints Most Popular Most Shared North Korea ready to fight if attacked: report | Video 12:57am EDT Covert U.S. operations authorized in secret order 24 May 2010 Obama tells military: prepare for North Korea aggression 24 May 2010 Memorial planned for rig victims | Video 1:06am EDT Seoul shares fall 3 pct as N.Korea tensions weigh 24 May 2010 UPDATE 2-U.S., European economies face major hurdles-GE CEO 24 May 2010 Clinton says China wise to buy U.S. debt instruments 1:19am EDT Raleigh ranked top U.S. city for quality of life: poll 24 May 2010 Freestyle spells trouble on 'Dancing With Stars' 24 May 2010 Shares and euro fall as debt fears rattle markets 2:38am EDT North Korea ready to fight if attacked: report | Video 12:57am EDT Covert U.S. operations authorized in secret order 24 May 2010 UPDATE 2-U.S., European economies face major hurdles-GE CEO 24 May 2010 Shares and euro fall as debt fears rattle markets 2:38am EDT Obama tells military: prepare for North Korea aggression 24 May 2010 Raleigh ranked top U.S. city for quality of life: poll 24 May 2010 Clinton says China wise to buy U.S. debt instruments 1:19am EDT North Korea on combat alert as U.S., South hold drills 08 Mar 2010 U.S. reverses stance on treaty to regulate arms trade 14 Oct 2009 Steve Jobs to Headline iPhone-Centric Apple Developer Conference 24 May 2010 North Korea ready to fight if attacked: report Jonathan Thatcher SEOUL Tue May 25, 2010 12:57am EDT Factboxes Factbox: International sanctions against N. Korea Mon, May 24 2010 Factbox: South Korea punishment of North for ship sinking Mon, May 24 2010 Related News Q+A: How serious is the crisis on the Korean peninsula? Mon, May 24 2010 Ban eyes prompt U.N. council action on Korea crisis Mon, May 24 2010 South Korean markets jolted by tensions with the North 12:57am EDT Related Video South Korea punishes North Mon, May 24 2010 < 1 / 5 > View Full Size SEOUL (Reuters) - North Korean leader Kim Jong-il has told his military it may have to go to war but only if the South attacks first, according to a South Korea-based group that monitors the hermit state. World | North Korea An earlier report by the South's Yonhap news agency that Kim had told his troops to get ready for combat hit already nervous Seoul financial markets, with the main share index dropping more than three percent. The won also fell sharply. However, the group of North Korean defectors' website (www.nkis.kr) said the broadcast was made on May 20, before the South announced a series of measures to punish its neighbor for sinking one of its warships in March, killing 46 sailors. "We do not hope for war but if South Korea, with the U.S. and Japan on its back, tries to attack us, Kim Jong-il has ordered us to finish the task of unification left undone during the ... (Korean) war," it quoted the broadcast as saying. The comments are in line with previous ones by the North that it is ready to defend itself if attacked. Seoul on Monday announced it would ban all trade with the North over the sinking and stop its commercial ships using South Korean waters, moves likely to further squeeze the already destitute North Korean economy. Both sides have stepped up their angry rhetoric after international investigators late last week blamed the North for torpedoing the Cheonan corvette in one of the deadliest clashes between the two since the 1950-53 Korean War. The North's KCNA news agency quoted the Minju Joson newspaper as saying Seoul had fabricated the Cheonan incident to lay the ground for an invasion. The United States, which has 28,000 troops on the peninsula, threw its full support behind South Korea and said it was working hard to stop the escalation fury getting out of hand. On the other side of the Cold War border, the North keeps about one million soldiers, one of the world's largest standing armies. POORLY EQUIPPED But they are poorly equipped and analysts say the North is unlikely to risk full scale combat against much better armed U.S. and South Korean troops. South Korea is just as reluctant to go to war, aware it would send investors fleeing from Asia's fourth largest economy. Analysts say the main risk is that small skirmishes along the heavily armed border could turn into broader conflict. "The original provocation for North Korea was not strategic, but tactical, and it is hard to see this escalating in a strategic sense," said Masao Okonogi, a Korea expert at Tokyo's Keio University. The South's financial markets are already jittery over the increasingly angry war of words between the two Koreas, which have yet to sign a peace treaty to formally end the Korean War. "The Yonhap report ... chilled investor sentiment as it highlighted South Korea's geopolitical risks. And timing for such news could not be worse, as market sentiment was already shaky with renewed euro zone financial fears," said Hwang Keum-dan, a market analyst at Samsung Securities. "The stock market will have a hard time recovering until these two big uncertainties are somewhat resolved," she said. South Korea's won also extended losses, falling 4.5 percent to a 10-month low against the dollar, driven down by the combined euro zone and North Korea concerns. The authorities were seen intervening to prevent too fast a drop. U.N. SECURITY COUNCIL South Korean President Lee Myung-bak said on Monday he would take the issue to the U.N. Security Council, whose past sanctions are already sapping what little energy North Korea's communist economy has left. In what several diplomats in New York said was an unusual intervention in Security Council matters, U.N. Secretary General Ban Ki-moon, a South Korean, expressed confidence the Council would take "appropriate" measures. The United States, which backs Seoul, said the situation was "highly precarious" and it would take part in a joint naval exercise with the South. China, the North's only major ally, urged calm. The Pentagon announced plans for a joint U.S.-South Korean anti-submarine drill "in the near future" and said talks were underway on joint maritime interdiction exercises. Seoul believes a North Korean submarine infiltrated its waters and fired on the Cheonan. (Additional reporting by Christine Kim, Jungyoun Park and Kim Yeon-hee in Seoul and Linda Sieg in Tokyo; Editing by Jerry Norton) World North Korea Comments See All Comments (9) | Post Comment May 24, 2010 10:41pm EDT North Korean leader Kim Jong-il Is definitely ill . I believe he might do something stupid just so his son will take his place because he probably doesn’t have long to live yea its going to hit the fan I’m afraid Ive been keeping an eye on them as well as Iran for some 8 years now but north Korea will definitely be pulling the trigger on this one I’m afraid in the near future i give it a week my diamondman Report As Abusive May 24, 2010 10:51pm EDT north korea is getting ready to fight i can feel it. Ive think north might pull the trigger on this mess! diamondman Report As Abusive May 25, 2010 12:00am EDT Seems like the best time to invade. America caused a great financial crisis which has crippled the world and is mired in two wars. Europe is about to implode, while the Chinese are set to break 12% GDP growth this year. The East is Red. Phead128 Report As Abusive May 25, 2010 12:11am EDT “Even the lowly mouse will turn and fight when cornered…” They’ve got nothing to lose… Fait atencion… Pavlov Report As Abusive May 25, 2010 12:25am EDT I think Kim Jong Ill played king of the hill once to many times as a child. Who’s he flexing all that muscle for, anyway? Nobody cares anymore. Everybody knows he’s an attention seeker. He does this stuff when he feels the world isn’t paying him enough attention. HemiHead66 Report As Abusive May 25, 2010 1:47am EDT Why won’t reuters ever post my comments? jburke1983 Report As Abusive May 25, 2010 2:50am EDT nothing more than diversion. stop w/ the yellow journalism. truly pathetic. brea Report As Abusive May 25, 2010 2:51am EDT That is what the North has been warning the world. Forever – Warning, threats, worry, paranoia, and missile launches. What is going to happen as we enter into summer? Thomas Chi thomaschicom ThomasChi Report As Abusive May 25, 2010 3:32am EDT So… How many countries have to be involved in conflicts before we can technically call it World War III? Fulyngu Report As Abusive See All Comments (9) Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. 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Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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