South Korea Ferry Company CEO Arrested

Divers participating in the search and rescue operation for the sunken ferry Sewol`s missing passengers wait for tidal conditions to improve on a barge in waters off Jindo Island, South Jeolla Province, South Korea, 30 April 2014. Photo by EPA/BGNES

Prosecutors in South Korea have arrested the CEO of the company that owned the ferry that sank off South Korea, killing more than 260 people.

Kim Han-sik, chief executive officer of Cheonghaejin Marine Company, was arrested on Thursday. He faces charges of causing death by negligence and violating maritime law, according to reports of CNN.

Investigators have said that the fact that the ferry was overloaded with cargo could have contributed to the sinking of the boat.

According to investigative authorities, this wasn't the first time the ferry had excess cargo, with a total of 139 breaches of safe cargo capacity since March 2013.

The ferry Sewol, carrying 476 people, including more than 300 high school students on a field trip, was sailing from Incheon to Jeju Island when it sank on 16 April.

Only 172 people were rescued and 35 are still unaccounted for.

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