Simple Coordinate Puzzle with extra secret word

Question

PETARM
TUDTOH
EOZRAT
NYFZHY
NEKILP
KSSONE

23SW242N355W436SW436S432SE211SE6
¡∞„¢£§Í„¢¡¡Í´§¢£˜´¢§¢´£™¡Í´™™¡Í£

The decrypted answer should consist of two sentences with 7 words each, and then a single (secret) word.

Partial answers are welcome.

Hint:

K = 

Answer 1

The word search:

There are several words to be found here, including THIS, TYPE, and the PUZZLE across the diagonal which jumps out at you.

The line of letters and numbers:

The beginning of this line has two digits followed by a letter; the end of the line has a single digit following a letter; and the remainder of the line shows digits in groups of three separated by one or two letters. The letters suggest points on a compass. Parse the line into groups like so:

23SW2 42N3 55W4 36SW4 36S4 32SE2 11SE6

Note the last group 11SE6 seems to correspond to the word PUZZLE from the word search. The word begins at the top left of the grid, which has coordinates (1, 1). It is read downward and to the right, in a south east direction. It is also six letters long. Decode the remaining groups into words using the same system:

23SW2 42N3 55W4 36SW4 36S4 32SE2 11SE6
DO    YOU  LIKE THIS  TYPE OF    PUZZLE?

I reply, 42S3

The line of symbols:

There are doubled symbols ¡¡ and ™™ in the same places as the line above has doubled digits 55 and 11. This is enough to suggest that this line is the same type of code as the one above, but with a simple substitution applied to replace the letters and digits with symbols. Because the code groups always follow a pattern of digits and letters, either 11AA1 or 11A1, we can approach this deductively.

The first step is to distinguish the digits from the letters and delimit the line into code groups. The first two symbols must be digits, the last symbol must be a digit, and the third symbol and second-to-last symbols must be letters. Assign digits and letters to them arbitrarily.

¡∞„¢£§Í„¢¡¡Í´§¢£˜´¢§¢´£™¡Í´™™¡Í£
12N 3 E  11E   3      3 1E   1E3

Because digits within the line must occur in groups of three, the ™ must be a digit. For the same reason, the ¢£§ near the beginning must be a run of three digits.

¡∞„¢£§Í„¢¡¡Í´§¢£˜´¢§¢´£™¡Í´™™¡Í£
12N435E 411E 543  454 361E 661E3

We have assigned six digits, so the remainder must be letters. A two-letter group must begin with N or S. Thus, ͘ are from NS and ´„ are from EW.

¡∞„¢£§Í„¢¡¡Í´§¢£˜´¢§¢´£™¡Í´™™¡Í£
12W435NW411NE543SE454E361NE661N3

These letters and digits are still placeholders, so it is time to solve another substitution. Break the line into groups and assume one of the groups must be the word PUZZLE. The only group that fits is 11NE5. By coincidence, our digit 1 and letter E are correct. This gives us all of the letters (since there were only two options for each letter), and two of the digits.

12W4 35NW4 11NE5  43SE4 54E3 61NE6 61N3
1 W   6SW  11SE6    NE  6 E   1SE   1S
           PUZZLE

A word reading southwest in the grid which fits before PUZZLE is THIS, encoded as 36SW4. This gives us two more words for free.

12W4 35NW4 11NE5  43SE4 54E3 61NE6 61N3
1 W4 36SW4 11SE6  43NE4 64E3  1SE   1S3
     THIS  PUZZLE FROM  ONE

Only the digits 25 remain, and finding a four letter word in the first row of the grid, reading to the west gives RATE.

12W4 35NW4 11NE5  43SE4 54E3 61NE6 61N3
15W4 36SW4 11SE6  43NE4 64E3 21SE2 21S3
RATE THIS  PUZZLE FROM  ONE  TO    TEN

To find the single, secret word, simply remove from the grid all letters which were used to decode the above:

......
...T.H
....A.
......
N.....
KS....

Thanks for the puzzle! I give it a 10/10.