A huge rescue operation has managed to save more than 368 people including hundreds of terrified high school children from a sinking South Korean passenger ferry after half the ship began dangerously submerging into the sea on Wednesday.

At least two people - an employee of the boat company and a student - were killed and 14 passengers were injured as the ship sank, officials confirmed.
Dozens of boats, helicopters and divers scrambled to rescue more than 470 people were were aboard the 6,825-ton ferry in what emergency services are calling the country's biggest peacetime disaster in 20 years.
Officials claim 164 people have been rescued so far, but the South Korean Coast Guard fear the number of casualties could rise as they continue to drag passengers out of the water and try to locate people who are still trapped inside.
The ferry was sailing to the southern island of Jeju when it sent a distress call Wednesday morning after it began leaning to one side, according to the Ministry of Security and Public Administration.
Coast guard footage showed the vessel submerged with only its bow visible 12 miles from Byeongpoong island off the southwest corner of the Korean peninsula. The government said about 95 percent of the ship was submerged.


Terrifying: The South Korean ferry dangerously listed to one side while on its way to Jeju island about 100km south of the Korean peninsula
Terrifying: The South Korean ferry dangerously listed to one side while on its way to Jeju island about 100km south of the Korean peninsula