PLEASE NOTE: EDIT CONTAINS MATERIAL THAT WAS ORIGINALLY 4:3<br/> <br />The decomposed body of fugitive businessman Yoo Byung-un was found on June 12th but South Korean police have only now confirmed the identity.<br/> <br />Yoo was head of the family which operated the ferry that capsized in April killing more than 300 people.<br/> <br />Yoo, seen here in footage from 1999, was at the centre of South Korea's biggest manhunt over allegations of embezzlement, negligence and tax evasion.<br/> <br />The police identification of his body came just a day after prosecutors apologised for failing to track him down.<br/> <br />(SOUNDBITE)(Korean) CHIEF OF SUNCHEON POLICE STATION, WOO HYUNG-HO, SAYING:<br/> <br />"The result of the examination by the National Forensic Service on July 21 - we were told that the body fluids and DNA samples we had collected at Yoo's office matched exactly with those of the body."<br/> <br />The capsizing of the Sewol ferry was South Korea's worst maritime disaster in 20 years.<br/> <br />Many of the vict
