A South Korean passenger ferry carrying 267 passengers and crew has become stranded after running aground off the southwestern tip of the Korean peninsula and a rescue operation is under way to bring them to land, the coast guard says.

South Korean President Lee Jae Myung, who is travelling in the Middle East, ordered a swift rescue of all on board to prevent casualties and details of the operation to be made public as they occur, the Yonhap News Agency reported.

Authorities were deploying all possible resources in the rescue operation, the coast guard said in a statement.

The coast guard believed there were no casualties so far from the incident and the boat was not taking on water, it said.

The 26,000-tonne ferry was travelling from Jeju Island to Mokpo, according to the coast guard.

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