South Korean Naval Ship Sunk By Torpedo Near the Limit Line Between South and North Korea - Video Report - 3/26/10
UPDATE 2:50 PM CT: Fox News is now reporting the South Korean ship may have blown a hole in its own side accidentally. They said it is not thought at this time that North Korea had anything to do with the sinking.
Here is a video report on a South Korean naval ship that is sinking after being hit by a torpedo. More than 100 people were aboard and many are feared dead. There have been some reports that South Korea is now firing at an "unidentified ship" in the North. South Korea is calling an "emergency meeting to discuss these developments in the Yellow Sea."