Five South Korean crew members of a cargo ship that was hijacked by Somali pirates in November have been released after three months of captivity.

The Foreign Ministry in Seoul confirmed that the South Koreans were freed at around 9:30 p.m. Friday KST. The Panama-registered Chemstar Venus, owned by a Japanese shipping firm, was seized in the Gulf of Aden near Somalia on November 15th last year. A total of 23 crew members --- five Koreans and 18 Filipinos --- were aboard the 20-thousand-ton freighter.

The ministry said the vessel was on its way to a port in the United Arab Emirates and that the released hostages will return to Seoul after a medical checkup in Dubai. All the crew members are reportedly in good health.

Earlier in the day, the ministry said negotiations for the release of hostages have been finalized and that only technicalities remained, including the remittance of ransom.

Meanwhile, the National Assembly will pass a bill next month which would pave the way for dispatching a naval vessel to Somalia to protect South Korean fishing and cargo ships from pirates.