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Kim Sun-il (search), a young South Korean businessman held hostage in Iraq was beheaded today, in spite of promises of an extended deadline on his execution, according to Al-Jazeera (search) television.

Kim had been held hostage by suspected Al Qaeda-linked abductors, who originally said they'd kill him Tuesday but then extended that deadline during negotiations, according to Ahmed al-Ghreiri, an employee with the NKTS security firm that is acting as an intermediary.

But his captors apparently changed their mind and executed Kim anyway, according to Al-Jazeera.

We'll have the very latest on the situation, including a LIVE report from Baghdad when our own Geraldo Rivera joins us.

Plus, we'll ask former Secretary of State Henry Kissinger (search) to weigh in on the latest terrorist beheading and also give us his view of the foreign policy legacy of former President Ronald Reagan (search).

Additionally, we'll bring you the very latest news from the Scott Peterson (search) double-murder trial as testimony continues today in Redwood City, California.

These stories and much more...

Don't miss "On the Record" tonight at 10 p.m. ET.