Amid ongoing inter-Korean economic talks in the North, top military officials from the two Koreas have convened for their second round of discussions on easing military tensions.

The meeting, held at the Mount Sorak resort on South Korea's east coast, focused on Seoul's proposed measures to avoid accidential naval clashes along the western sea border.

South Korea is pushing for the establishment of a military hotline and the use of the same flag signals and radio frequencies by patrol boats of the two sides as a means to prevent naval skirmishes. Seoul also wants both sides to exchange information on their respective crackdowns on illegal fishing in the Yellow Sea.

North Korean delegates agreed to the South's proposal for alleviating military tensions at the western sea border, but proposed that both sides first stop airing propaganda broadcasts over loudspeakers along the border.

Dozens of sailors on both sides have been killed or injured in naval skirmishes in recent years at the western sea border during the peak crab-catching season.
Stocks Nose-dive to Post 3rd Biggest 1-Day Loss This Year

Korean stocks took a nosedive Thursday on news of an impending interest-rate hike by China and soaring global oil prices.

The benchmark Korea Composite Stock Price Index (KOSPI) plummeted 4.2 percent to 770 for the third-biggest single-day decline of the year. The index for the tech-heavy KOSDAQ market also dropped by 3.1 percent to close the day at 394.

Traders said foreign investors unloaded shares of major info-tech stocks, although the benchmark KOSPI index began inching back up after China announced near the market closing that it had no immediate plans for a rate hike.