The accident happened close to where the Sewol ferry sank in 2014, killing more than 300 people in South Korea's biggest maritime disaster.
Divers believe at least four people are still inside the fishing boat, which did not have approval by South Korean authorities to fish in the area, an official from the Ministry of Public Safety and Security told AP news agency.
Five people were rescued but one later died.
Five people were rescued but one later died.
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