A major rescue operation is underway off the <br />coast of South Korea after a passenger ferry sent a distress signal saying it was sinking.<br /><br />It’s unclear how many people are on board the ship which was taking hundreds of high school children on a field trip to Jeju island.<br /><br />At least one person has been confirmed dead although a local news source had earlier declared all students and teachers had been rescued.<br /><br />It’s not cleared why the ship ran into difficulties although heavy fog had set in overnight leading to cancellations of many ferry services to the islands.