The head of a ferry operator was sentenced to seven years in prison in South Korea’s highest court over a ship sinking that killed more than 300 people.

A ferry operator’s chief executive and four employees caused the sinking of a South Korean ship , prosecutors claimed today.

South Korea is offering a reward for information about a mysterious missing billionaire who authorities say owns a ferry that sank last month, leaving more than 300 people dead or missing.

South Korean prosecutors are seeking to formally arrest the head of the company that owns the Sewol ferry as part of a prove into its sinking, that left more than 300 people dead or missing, officials said.

South Korean prosecutors have detained the head of the company that owns the ferry that sank last month over an allegation of cargo overloading.