No chance of full scale war on Korean Peninsula: Lee Myung-bak

South Korean President Lee Myung- bak said Saturday here that there will be no full-scale war on the Korean Peninsula despite rising tensions over there.

Lee told a dozen Singaporean business leaders, there is "no chance of a full-scale war at all," the president was quoted as saying.

Lee was apparently seeking to dispel worries over the security condition on the peninsula where tensions have escalated since the South Korea accused the Democratic People's Republic of Korea ( DPRK) of torpedoing the Cheonan.

Lee Myung-bak met Singapore Prime Minister Lee Hsien Loong on Saturday, and both of them witnessed the signing of a Memorandum of Understanding (MOU) between Singapore's Health Sciences Authority (HSA) and South Korea's Food and Drug Administration ( KFDA).

On Friday, South Korea referred the dispute with the DPRK to the UN Security Council. However, the DPRK earlier denied the accuses from South Korea.

Source:Xinhua