South Korea has outlined a plan to counter a possible missile attack by North Korea, Seoul's Yonhap News reported on Sunday.

The scenario submitted to President Lee Myung-bak included a plan to counter-attack in case North Korea fires a missile targeting the South's battleships in the contested waters off the west coast

The response under the contingency plan, according to military sources, would be joint attacks from surface, air and sea against the North's missile base.

Lee warned Saturday that his country will not let North Korea use its recent nuclear and missile tests to win concessions and that Pyongyang needs to return to talks aimed at ending its nuclear program.

The communist nation has escalated tensions in the region in recent weeks after conducting its second nuclear test and launching a barrage of missiles. The North also appeared to be preparing to test a long-range ballistic missile capable of reaching the U.S.

"I would like to make it clear that there won't be any compromise" with North Korea when the country threatens the South's security, Lee said in a speech marking Memorial Day at a national cemetery in Seoul.

Click here to read more on North Korea's nuclear program.

Lee did not elaborate on what kind of compromises he was referring to. But some experts believe the North is using its nuclear and missile tests, and the trial of two American journalists, to strengthen its position for possible talks with the U.S. in order to win concessions or much-needed economic aid.

"North Korea should keep its promise to denuclearize the peninsula and come forward to inter-Korean dialogue," Lee added.

Lee also called on the military to have perfect defense readiness during his tour to Osan Air Base near Seoul, where he met top South Korean and U.S. military officials, according to his office. The U.S. has some 28,500 troops in South Korea to help deter the possible North's aggression.

The Associated Press contributed to this report.