Prosecutors have arrested Chonghaejin Marine chief executive Kim Han-Sik, the South Korean Sewol passenger ferry operator, which sank in April resulting in the loss of more than 300 lives.
Following his arrest in the port city of Mokpo on charges of manslaughter and maritime law violations, Kim Han-Sik was quoted by media sources as saying: "I apologise to the victims and the families."
South Korean Prime Minister Chung Hong-won has recently resigned due to mishandling the incident.
The South Korean Government has faced huge criticism for the incident, which is currently under investigation as to whether the vessel took too sharp a turn before capsizing or was carrying more than the authorised amount of cargo to transport.
As part of the investigations, the government has detained four more crew members, while the captain and two further crew members are accused of negligence of duty and maritime law violations.
The 146m long South Korean passenger ferry, Sewol, capsized off the south-west coast on 16 April, as it journeyed from Incheon in the north-west to the southern island of Jeju.
Sewol was carrying 477 people at the time of the incident, including 338 students and teachers from the Danwon high school in Ansan, Seoul, who were on a field trip to Jeju Island. The ferry was also carrying 150 vehicles.