Korean navies exchange fire in disputed waters

  Seoul, South Korea (CNN) -- North and South Korean naval forces exchanged fire on Tuesday in disputed waters, a South Korean defense official said.

The two Koreas clashed off their west coast, the first such incident in seven years, each blaming the other for the incident.

South Korean President Lee Myung-bak convened an emergency security meeting and urged the military to to ensure that the naval clash did not escalate into something greater, Yonhap reported.

South Korea issued three verbal warnings to ship from the Communist north once the vessel had crossed a demarcation line late Tuesday morning, said Rear Adm. Lee Ki Sik of the Joint Chiefs of Staff. The South Koreans then fired a warning shot but when the North Korean vessel continued southward, the South Koreans opened fire.