It has been revealed that the the Ministry of Oceans and Fisheries will be compensating about $380,000 to each of the students’ families who lost their lives during the tragic Sewol Ferry accident.
Victims’ families were offered 420 million won ($380,000) as the first settlement. It was also revealed that they will be giving a higher amount at about 760 million won to the families of the teachers who died during the accident because of lost income. Depending on their age and income, South Korea will give other passengers between 150 million won to 600 million won as settlement.
The Sewol Ferry accident occurred on April 16, 2014 where a total of 250 students died or remained missing and 11 teachers where found dead. The ferry carried 476 passengers while more than two-thirds were present for a school trip.
After the tragic accident, a heartbreaking photo of Danwon High School‘s homeroom classes shared their classroom photo, where the students where holding photos of the students who died during the accident.