The confirmed death toll from the accident stood at 210, with 92 unaccounted for, the coastguard said, with divers pushing deeper into the submerged vessel's interior in their search for bodies.
The recovery operation has stalled in recent days because of strong currents and debris blocking access to some of the cabin decks.
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Senior Prosecutor Yang Jong-Jin said the captain, identified only as Shin, told investigators that he had warned the shipping company of serious stability problems with the Sewol.
The Chonghaejin Marine Co. Purchased the then-18 year old ferry from Japan in 2012 and refurbished it, building extra passenger cabins on the third, fourth and fifth decks.
Shin said the renovations altered the balance of the ship and undermined its anti-rolling ability.
When he advised the company about the problems, his warnings were brushed aside, he told investigators.
The precise cause of the accident is still under investigation, but experts have suggested a sharp turn may have caused its cargo to shift, and the ferry to list irretrievably to one side before capsizing.
Kim Han-Sik, the CEO of Chonghaejin Marine, was summoned to the prosecutors' office Tuesday in the port city of Incheon, from where the ill-fated ferry departed bound for Jeju island.
Kim, 71, issued a tearful apology for the "horrible tragedy" the day after the accident, saying he and other company officials were responsible for a "grave sin" in letting it happen.
In Shin's absence, the Sewol was skippered by captain Lee Joon-Seok, who is now under arrest along with 14 crew members.
The coastguard released a video earlier this week showing Lee scrambling to safety as hundreds of his passengers remained trapped inside the ferry.
Public disgust at the behaviour of the crew has been matched by the anger of the victims' relatives with the official response to the disaster.
President Park Geun-Hye apologised yesterday for her government's failure to combat systemic and regulatory "evils" that may have contributed to the accident and for the "insufficient first response."
But many of the victims' families rejected her apology, which was made during a meeting with her cabinet ministers.
"An apology made before several cabinet members behind closed doors cannot be considered an apology," said Yoo Gyeong-Geun, the spokesman for a group of around 100 families who issued a statement demanding a thorough probe into the rescue operation.
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