The South Korean coast guard says a cargo ship with a crew of 16 North Koreans has sunk off the south coast of the country on Friday.
 
Coast guard officials said they lost contact with the 43-hundred-ton Mongolian-flagged cargo ship early Friday morning right after it sent out a distress signal. They said the ship was 74 kilometers southeast of Geomun island near Yeosu when it called for help.
 
The officials said two dead sailors were found, and three survivors were pulled from the water and are being treated at a hospital in Jeju Island.
 
They added the entire crew, including the captain, are North Korean nationals. The ship was said to have loaded steel products in Chongjin, North Korea, and was going to a port in China.

A high seas watch was in effect in the area when the ship sank. 

The government says it plans to go through the Red Cross to discuss the return of the three survivors.