I live in Japan and see this dispute about the Liancourt islets on the news all the time. As an outsider it all seems kind of foolish to me, BUT apparently there're natural gas reserves surrounding the islets and it's prime fishing area. It sickens me to see how immature South Korea's government is being in regards to this issue, that's something you'd expect from Kim Jong-il's up in the North...
The most recent twist in all of this happened this week, S. Korea launched some new state of the art Naval Destroyer...and they named it after the Islets...they made a huge deal of it in their media even comparing the destroyer's stats with those in the Japanese Navy. Apparently the S. Korena Navy could whoop Japans....or at least that's what they tried to convey to the masses.

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