The CEO of the company who was running the business of passenger ferry – that drowned in South Korea killing more than 260 students- has been arrested. Prosecutor Yang Joong-jin said to a private news agency that chief executive officer of Cheonghaejin Marine Company, Kim Han-sik, has been charged with causing death by negligence.
He further said that Kim has also been charged for overloading the cargo that violates the ship safety act. Investigators hold the opinion that the main cause of sinking ferry was overloading of the cargo. They said that due to heavy cargo, the ferry – carrying more than 476 passengers– failed to tie it down property.
On the other hand, officials said that the limit of the cargo was double than the limit sanctioned for a ferry. They said that the cargo was not property tied up however the ship lost its balance and happened to sink off.
The investigation is underway and the details of charges against Kim the CEO of Cheonghaejin Marine Company have not been officially announced.