Ferry with 350 passengers sinking off South Korea: Yonhap

South Korean coastguard vessels were despatched Wednesday to rescue around 350 passengers -- mostly high school students -- on a ferry sinking off the southeastern coast, Yonhap news agency said.

The ferry had been travelling from the western port of Incheon to the southern resort island of Jeju when it ran into trouble, Yonhap said, adding that coastguard and naval vessels were involved in the rescue operation.