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SEOUL (Reuters) - North Korea said the South will pay "an expensive price" for firing at Pyongyang's retreating patrol boat on Tuesday, keeping up its saber rattling two days after a naval gunfight raised tension between the rivals.
The threat, published in the North's official Rodong Sinmun daily, comes amid reports officials from the two Koreas met recently to discuss a possible summit between their leaders but failed to reach agreement.
The navies from the two sides exchanged gunfire on Tuesday for the first time in seven years, reminding financial market players of the security threat the North poses to the region, which accounts for one-sixth of the global economy.