Audit: Ferry operators prioritized profit over safety

SOUTH KOREA (NEWSCHANNEL 3) - A new audit by South Korean's government says the operators of the sunken ferry prioritized profit over safety and the vessel was licensed based on falsified documents.

The government agency also says officials from the coast guard and ministry of security and public administration performed poorly in the initial response to the disaster.

Nearly 300 people, mostly high school students, died when the ferry capsized in April.

Eleven are still missing.