South Korea's president vows to disband coastguard

South Korea's president announced the country's coastguard will be disbanded, in a televised apology and speech.

Read: South Korean president to issue public apology

South Korea's president bowed deeply before her emotional statement and apology. Credit: AP Photos.

Park Geun-hye said the rescue operations after the April 16 disaster a failure, and she would push for legislation that would transfer the coastguard's responsibilities to the National Police Agency and a new government body she plans to establish.

More than a month after the sinking, 286 bodies have been retrieved but 18 others are still missing. Some 172 people, including 22 of the ship's 29 crew members, survived.

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Death of South Korea ferry boss confirmed

South Korean police has said that a body found last month in the south of the country belonged to a fugitive businessman who headed the family that owned the operator of a ferry that capsized in April, killing more than 300 people.