The following May 20th statement is from the Korean Central News Agency:
Pyongyang, May 20 (KCNA) — A spokesman for the DPRK National Defence Commission issued a statement today as regards the sinking of warship “Cheonan” of the south Korean puppet navy.
Hu Jintao, General Secretary of the CC of CP of China and President of the PRC met recently with Kim Jong Il, General Secretary of the Workers Party of Korea and chairman of the National Defense Commission of the DPRK, in Beijing, May 5, 2010.
The statement reads:
We had already warned the south Korean group of traitors not to make reckless remarks concerning the sinking of warship “Cheonan” of the puppet navy.
Nevertheless, the group of traitors had far-fetchedly tried to link the case with us without offering any material evidence. It finally announced the results of the joint investigation based on a sheer fabrication, which assert that the warship was sunken by our torpedo attack, in a bid to mislead the public opinion inside and outside Korea.
It is, at the same time, crying out for “punishment” and “retaliation” internally and foolishly seeking to prod the international community into applying additional “sanctions” against the DPRK.
What matters is that traitor Lee Myung Bak is taking the lead in such anti-DPRK smear campaign, even daring slander the headquarters of our revolution.
Meanwhile, Kim Thae Yong and other gangsters of the south Korean puppet military accustomed to flattery and blind obedience echo Lee Myung Bak’s outbursts. This smear campaign is fanned up by Ryu Myung Hwan and other ultra-rightist conservatives of south Korea.
This is also joined by the U.S. and Japanese aggressors who are making desperate efforts to keep their hostile policy towards the DPRK on its orbit.
We would like to question them so busy linking the above-said case with the DPRK why they don’t link with it the death of a puppet army soldier, crashes of fighter plane and gunship of the puppet navy and air force and the sinking of a civilian fishing boat that occurred one after another almost simultaneously.
It is the age of science and technology.
As a swollen balloon is bound to break, any lie is bound to be brought to light no matter how hard one may try to make it sound plausible.
What is evident is that the sinking of warship “Cheonan” can never be construed otherwise than a “conspiratorial farce” and “charade” orchestrated by the group of traitors in a deliberate and brigandish manner to achieve certain political and military aims because only 46 soldiers met miserable deaths while officers survived the case.
This being a hard reality, they are pointing a dirty accusing finger at us like a thief crying “Stop the thief!”
It is a trite method of the successive south Korean puppet regimes to fake up a shocking case and use it for floating a story about “north wind” whenever they find themselves in a crisis.
These days they are using for this plot even “deserters from the north” who had found their ways to a dumping ground and human scum.
The National Defence Commission of the DPRK responsible for the defence of the country and the security of the nation clarifies the principled stand of our army and people in view of the grave situation where the sinister plot of the group of traitors may lead to reckless actions against us.
1. As the group of traitors declared that the sinking of the warship “Cheonan” is linked with us, the NDC of the DPRK will dispatch an inspection group to the spot of south Korea to verify material evidence concerning the linkage.
The group of traitors should produce before the dignified inspection group of the DPRK material evidence proving that the sinking of the warship is linked with us.
We remind the group of traitors in advance that there should be not a shred of doubt about the material evidence to be produced before the inspection group.
2. Our army and people will promptly react to any “punishment” and “retaliation” and to any “sanctions” infringing upon our state interests with various forms of tough measures including an all-out war.
The all-out war to be undertaken by us will be a sacred war involving the whole nation, all the people and the whole state for completely eliminating the strongholds of the group of traitors who orchestrated “the conspiratorial farce” and “charade” and their followers and building instead a reunified power in which the whole nation emerges powerful and prosperous.
The tough countermeasures to be taken by us will prove to be practical actions of justice for dealing unpredictable sledge-hammer blows at the group of traitors who blocks national reconciliation and unity and stirs up an atmosphere of confrontation in the south Korean society.
3. Now that the group of traitors declared what it called “decisive actions”, we will brand any small incident that occurs in the territorial waters, air and land where our sovereignty is exercised including the West Sea of Korea as a provocation of confrontation maniacs and react to it with unlimited retaliatory blow, merciless strong physical blow.
It is our invariable iron will to react to “retaliation” with more powerful retaliation and to “punishment” with indiscriminate punishment of our style.
Availing ourselves of this opportunity, we sternly warn the U.S. and Japanese authorities and riff-raffs, their poor lackeys, to act with discretion.
The world will clearly see what dear price the group of traitors will have to pay for the clumsy “conspiratorial farce” and “charade” concocted to stifle compatriots.
The Marxist-Leninist 
Two more important articles on this from KCNA:
Foreign Ministry US of Linking with S. Korean ship Sinking
Pyongyang, May 21 (KCNA) — A spokesman for the DPRK Foreign Ministry issued a statement on Friday denouncing the United States for pulling up the DPRK, absurdly asserting that the sinking of a south Korean warship was an attack made by north Korea and challenge to the international peace and security.
This betrays the intention of the U.S. to stir up the atmosphere of international pressure upon the DPRK by backing the Lee Myung Bak group of traitors of south Korea, the statement said, and went on:
This indicates that the U.S. is invariably pursuing a hostile policy towards the DPRK to isolate and stifle it.
As the DPRK had already clarified, it has nothing to do with the case. The DPRK has always abided by international law but the U.S. made such absurd assertion which reminds one of a thief crying “Stop the thief!”
The fabrication of the case and the “results of the investigation into it” are, in the final analysis, nothing but a farce orchestrated by the group of traitors with the approval of the U.S. and under its patronage.
The U.S. claimed that there was hardly any side which was ready to do so except north Korea and that the cause of the sinking of the warship was most likely a torpedo attack by north Korea even before the announcement of the results of the investigation, paying lip-service to scientific and objective investigation. From the very day the case occurred, the U.S. branded the DPRK as a “suspect” and led the investigation into the case in that direction.
Prompted by its miscalculation that the DPRK would yield to its sanctions, the U.S. chose to shun dialogue and negotiations under the signboard of strategic patience. The DPRK and the U.S. were in negotiations over the issue of holding another round of talks in New York in the wake of the Pyongyang bilateral talks held in December of 2009. This was part of the efforts to finally revive the framework of the six-party talks according to the third phase proposal made by China, the host country of the talks.
But the Obama administration of the Democratic Party which was defeated by the Republican Party in the by-election to the Senate that took place in January after it was criticized for being weak in the foreign policy again made a switchover to a hard-line policy, totally derailing even the process for the denuclearization of the Korean Peninsula by linking the DPRK with the above-said case.
It is the intention of the present U.S. administration to suffocate the DPRK politically and economically by internationalizing the sanctions against the latter and use south Korea as a servant for executing its Asian strategy. The U.S., however, should know that it is not so easy to pull the wool over the eyes of the world people.
They vividly remember upbeat and “persuasive” U.S. Secretary of State Powell reading top secret information about the existence of weapons of mass destruction in Iraq for 70 minutes at the meeting of the UN Security Council held in February of 2003. It was with such unprecedented lie that the U.S. justified an armed invasion of Iraq and it is still not free from such disgraceful fallout. Should the U.S. tell another lie on the Korean Peninsula and let its running dogs strain the situation, they will have to pay a price incomparably dearer than what the U.S. has done for the Iraqi war.
The U.S. and its vassal forces will witness only the reality of prospering socialist Korea quite contrary to what they had dreamed for such a long time.
It is the invariable policy of the DPRK to realize the denuclearization of the peninsula and protect the stability and peace of the region but it will not allow any slightest act to infringe upon its sovereignty and right to existence.
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CPRK Accuses S.Korea of Linking Ship Sinking with North
Pyongyang, May 21 (KCNA) — A spokesman for the Committee for the Peaceful Reunification of Korea (CPRK) issued a statement on Friday assailing the south Korean puppet forces for releasing extremely provocative “results of the investigation” into the sinking of a warship of the south Korean puppet navy in a bid to hurl mud at the north.
The statement noted that the publication of the above-said “results of the investigation” is another extremely ridiculous charade staged by the puppet group in a bid to hurt the dignity of the DPRK, steadily tighten the “sanctions” against it, harm and suffocate it in conspiracy with its U.S. and Japanese masters, much upset by the might of the Republic advancing by leaps and bounds toward a thriving nation.
The Lee Myung Bak group, while working with bloodshot eyes to escalate confrontation with fellow countrymen, drew the conclusion from the day the case occurred that the warship was “sunken by the north” and has since conducted intensive investigation on its basis to hatch a plot, the statement said, and went on:
In the course of nearly two month-long investigation the puppet group fabricated what it called “circumstantial evidence” with conjecture, supposition and random guess. It just produced fragments and pieces of aluminum whose origin remains unknown as “evidence,” becoming the target of derision.
Greatly irony is that it deliberately linked the case with the north, talking about the results of the analysis of composition of the unidentified “evidence” without any marking and its size and type.
This is nothing but a shameful deed of those keen on escalating the confrontation with the north.
The Lee group’s assertion that the above-said case is linked with the north is the last-ditch effort of those who face destruction as it is a premeditated and deliberate plot to tide over a serious crisis created due to the total failure of its domestic and foreign policies and smoothly stage the “elections to the local self-governing bodies” in a bid to maintain the fascist rule and bring the inter-Korean relations to a collapse.
The puppet forces are now kicking up such fuss as creating atmosphere reminiscent of a wartime situation in south Korea, blustering they would not “rule out a war” and crying out for “counter-measures”, urgently evacuating the personnel, equipment and materials of the south side from the areas of the north side and issuing top secret order for taking steps for personal safety and making preparations for withdrawal.
This racket reminding one of an eve of a war goes to prove that the group’s recent publication of the “results of investigation” was not a mere clarification of the sinking of the warship but a carefully calculated provocation to seek a pretext for igniting a war of aggression against the north together with outside forces.
The puppet group has created such grave situation on the Korean Peninsula that a war may break out right now.
Pursuant to the statement issued by a spokesman for the National Defence Commission, the Committee for the Peaceful Reunification of Korea solemnly declares as follows, speaking for the DPRK government authorities:
Firstly, from now on the DPRK will regard the present situation as the phase of a war and decisively handle all matters arising in the inter-Korean relations to cope with it.
Secondly, in case the puppet group opts for “counter-action” and “retaliation” under the pretext of the sinking of the warship, the DPRK will strongly react to them with such merciless punishment as the total freeze of the inter-Korean relations, the complete abrogation of the north-south agreement on non-aggression and a total halt to the inter-Korean cooperation undertakings.
The DPRK will never pardon anyone hurting its supreme dignity and doing harm to it, warned the statement.
Long Live Songun Korea under the Great Leaderhip of Comrade Kim Jong IL