South Korean President Lee Myung-bak attends a ceremony at Seoul's National Cemetery.

It's South Korea's 55th Memorial Day, held every year to commemorate those who died in military service, and it comes at a tense time.

North and South Korea are still technically at war since the 1950-1953 Korean War ended in a truce without a peace treaty.

But recent events have reignited tensions.

Seoul blames North Korea for torpedoing one of their navy vessels in March, killing 46 sailors.

The North, which denies responsibility, has said war could break out at any moment.

But Lee Myung-bak has dismissed the likelihood of war, and instead stated his desire for peace with their northern neighbors.

[Lee Myung-bak, South Korean President]:
"Our dream is to live in a unified fatherland in peace, freedom and prosperity along with North Koreans who are still suffering from hunger and oppression."

Despite this, South Korea is still looking for the North to be punished over its actions, and took its dispute to the U.N. Security Council.

The U.S. and Japan, allies of South Korea, have stood by Seoul in its pursuit of punishment for Pyongyang.