Three relatives of the owner of a ferry that sank in South Korea have been convicted of corruption, four months after the tycoon was found dead on the run.

South Korean police have found the body of a fugitive billionaire businessman sought over April’s ferry disaster that left more than 300 people dead or missing.

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.