Ferry owner Yoo Byung-eun said to notice stability problems

The de facto Sewol ferry owner was notified of stability problems of the ill-fated vessel in advance, which are known as the main cause of the ship's deadly sinking last month, investigators said.

According to the investigators, Kim Han-sik, the president of ferry operator Chonghaejin Marine Co., said he reported to the ferry owner, Yoo Byung-eun, early this year that the ship became top-heavy and less stable following modifications. The remodeling work involved adding more cabins on some part of its decks.

The overloading of cargo on the Sewol ferry was also found to have largely contributed to the April 16th disaster, which has left more than 300 people, mostly teenagers, dead or still missing.

The 73-year-old Yoo and his eldest son Dae-kyun have been put on the class-A most wanted list for criminal allegations that are believed to have led the ferry tragedy. The authorities have set the bounty money for the senior at 500 million won and for the junior at 100 million, the highest-ever such rewards in the country.