Seoul: South Korea said it would revoke the licence of the company owning the ferry that sank with the loss of around 300 lives last month, as prosecutors prepared manslaughter charges against its chief executive.
Kim Han-sik, head of Chonghaejin Marine Co, was picked up at his home south of Seoul and taken into custody in the southwestern port city of Mokpo.
The charges stem from allegations that Kim was involved in the overloading of the Sewol’s cargo consignment — seen as a major contributing factor to its capsize on April 16.
Meanwhile the Ministry of Oceans and Fisheries said it planned to close down Chonghaejin’s ferry operations entirely.