Kim Han-sik, president of Sewol ferry operator Chonghaejin Marine, has been sentenced to 10 years in prison for criminal negligence.
Gwangju district cited cargo overloading as the cause of the sinking in which more than 300 people, mostly schoolchildren, died. The vessel was said to have been modified to carry 3,608 tons of cargo, more than three times the safe limit, with a higher centre of gravity causing the vessel to list and sink.
Kim apologised to the families of the deceased last month, but local media reported that the fault for the disaster lay with billionaire owner, Yoo Byung-eun, whose suspected suicide was reported in June.
The news follows last week's jailing of the vessel’s captain Lee Joon-Seok for 36 years, as well as the chief engineer for 30 years, and 13 other crewmembers who were given sentences of up to 20 years.
The search for the remaining nine bodies was called off last week, and a salvage taskforce has since been set up to recover the wreck.
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