
For those who don't know, south korea did some military exercises in Yeonpyeong island when the NK decided to retaliate by firing artilery fire onto the island killing a few people military and civilian. The casualties may have been few, but the act was despicable nevertheless.
Now it seems that SK is going to proceed with another round of military exercises on the same island. NK is again threatening to repeat what happened if they carried out with the drill.
http://edition.cnn.com/2010/WORLD/asiapcf/12/17/north.korea.military.threat/index.html?hpt=T1I don't doubt that if SK proceed, NK will definitely shell Yeonpyeong again. And SK's president has already clearly stated if they did that, they would retaliate with much more force, air strikes to be specific.
So the question is will SK back down; or will the war reignite where it left off ?
The exercises, which will start Monday and end Friday, will take place off coasts on all sides of the country, the South Korean agency reported. None are scheduled near the Yellow Sea islands south of the maritime border with North Korea, defense officials said, but more locations could be added to the list.
http://edition.cnn.com/2010/WORLD/asiapcf/12/13/south.korea.drills/index.html?iref=obinsiteYeonpyeong artilery drill to resume soon
SEOUL, Dec. 16 (Xinhua) -- South Korea will soon carry out a live fire artillery drill on the island shelled last month by the Democratic People's Republic of Korea (DPRK), the Joint Chiefs of Staff (JCS) announced Thursday.
The planned drill will be conducted in waters south-west of Yeonpyeong island near the disputed western maritime border between the two Koreas on a selected day from Dec. 18-21 depending on weather conditions, JCS said in a statement.
The routine exercise is a legitimate one that abides by the armistice agreement signed at the end of the 1950-53 Korean War, and will be made public, JCS said.
The firing exercise was canceled after the DPRK bombarded Yeonpyeong on Nov. 23 in what Seoul said was an unprovoked attack, killing two marines and two civilians.
The DPRK claimed the attack was for self-defense and provoked by South Korean shelling near the disputed sea border it never acknowledged.
http://news.xinhuanet.com/english2010/world/2010-12/16/c_13651769.htmI do think that Kim Jong and his ilk definitely need to be toppled sooner better than later (considering they may still have a Nuke; and maybe making more).
But the SK capital has artilerys aimed at it. So there will certainly be huge casualties. It would be very demoralizing if when the war starts, SK already loses their capital after being blasted to kingdom come.
And this is hardly the scary part about SK and NK fighting each other. The scary thing is how will China react ?
The US is strongly allied with SK and will definitely assist them. But will China get involved

If they do, it could be the start of a WW3.
I may not like how China runs their country as they have a rotating elite telling everyone else how to live (i believe in a democracy). But at least they are involved with the world economically and everyone seems to be more interested in making money and bettering their lives rather than being hostile provokers like North Korea is.
Also will Taiwan take advantage of the situation and declare independence ?? That would certainly cause ww3. However i am highly doubtful this would happen.
Japan also seems to have concerns about the Chinese besides the North Koreans, which is why Japan is modernizing their self defense force.
http://edition.cnn.com/2010/WORLD/asiapcf/12/16/japan.military.guidelines/index.html?hpt=T2So as you can see there is a worrisome trend of tension going on in that region :/
Here is an assessment of military strength for NK and SK
http://edition.cnn.com/2010/WORLD/asiapcf/11/24/north.korea.capability/index.html?iref=allsearchPros for the war
1. finally the kim jong + his elite of dictators will be toppled.
2. their citizens can finally stop being brainwashed and live in such a poor environment. Lots of human abuse and starvation in NK; according to NK defectors. Refer to youtube for more info.
Cons
1. loss of human life is never something good. I believe that most NKs have been brainwashed by Kim Jong's propaganda that everyone is out to get them, when in reality Kim Jong and his elite have been preying on NK to support their extravagant life styles and military might to protect their status quo; while many NKs starve and live in poor conditions. So these people will be the ones to be the meat fodder for Kim Jong and his elites :/
2. The capital city Seol is probably going to be decimated :/ How soon can their citizens reach the bunkers; and how durable are they ? But the fact remains if war happens Seol will be dust whatever the outcome of the war :/
3. I doubt the Chinese want war either. Bad for business. Same could be said for Japan, South Korea, etc etc. Probably won't matter to North Korea since they are already under economic sanctions. NK has got nothing to lose; except maybe Kim Jong will probably be over throned; which confuses me why is he provoking the SK's into action ?
4. worse case scenario a WW3. Hopefully it doesn't happen.
5. Nukes are used. The first country to use a nuke will be attacked by everyone. I doubt the Chinese would help NK if they used a nuke. The US have said if NK used nukes; they would nuke NK in defense of SK.
6. South Koreans may not like taking in a huge swarm of poor NKs. Even if all goes well and SK wins; there may still be social problems between NK and SK citizens :/ I guess the exceptions would be reunification between NK and SK families separated by the war.