Taiwan's leader Ma Ying-jeou vowed to give the Philippines 72 hours to respond to demands regarding the shooting death of a Taiwanese fisherman at sea, or Taiwan will take actions to retaliate.

Ma demanded the Philippines to apologize, clarify the truth and punish people held responsible, offer compensation for the death and the damage to the fishing boat, and start negotiations with Taiwan on a fishery agreement as soon as possible, according to a statement posted on the website of Taiwanese authority.

"If the Philippine government does not make a positive response within 72 hours," Taiwan will freeze on all applications of Philippine laborers, recall its representative to the Philippines and ask the representative of the Philippines in Taipei to leave, the statement said.

The shooting happened on Thursday morning 164 nautical miles southeast of the southernmost tip of Taiwan, according to the island's coast guard authority.

The victim was identified as Hung Shih-Cheng, 65, one of four crew members of the Taiwanese fishing vessel Guang Ta Hsin 28. Hung's body was taken back to Taiwan early Saturday morning.