JINDO, South Korea - South Korean rescue teams, including elite navy SEAL divers, raced Wednesday to find nearly 300 people missing after a ferry sank with 459 on board, mostly high school students bound for a holiday island.
Lee Gyeong-Og, the vice minister of security and public administration, said 164 people had been rescued, leaving 292 "unaccounted for". His office said there were three confirmed deaths, including a female crew member and a student.
There are fears that the final death toll will be high, after the 6,825-tonne ship listed sharply, capsized and finally sank all within two hours of sending a distress signal at 9:00am (0000 GMT).
"I'm afraid there's little chance for those trapped inside to still be alive," said one senior rescue team official, speaking by phone from the scene.
Dramatic television aerial footage showed terrified passengers wearing life jackets clambering into inflatable boats as water lapped over the rails of the vessel as it sank 20 kilometres (13 miles) off the southern island of Byungpoong.
Some could be seen sliding down the steeply inclined side of the ferry and into the water, as rescuers, including the crew of what appeared to be a small fishing boat, struggled to pull them to safety.
Several rescued passengers said they had initially been ordered to stay in their seats, before the ferry suddenly listed to one side, triggering panic.
"The crew kept telling us not to move and to stay seated," one male survivor told the YTN news channel.
"Then it suddenly shifted over and people slid to one side and it became very difficult to get out," he added.
Lee's ministry earlier announced that 368 people had been rescued -- a mistake it attributed to conflicting information from multiple sources.