The South Korean coastguard is now racing against time to rescue all of the 477 people who were onboard the sunken ferry Sewol as darkness started to envelope the country's southwest coast on Wednesday.

The number of persons still missing has increased by more than three-fold to at least 300 as authorities said they miscalculated the figure earlier by announcing a larger number of rescued passengers.

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Two persons have already been confirmed dead while 164 were rescued from the ferry that sank Wednesday morning on its way to Jeju Island. Other passengers, who were rescued, however, said they saw several passengers staying inside their cars and in cabins before the tragedy occurred.

313 Still Missing

Authorities earlier said 368 people had already been rescued but recanted their statement and said on Wednesday afternoon that only 164, mostly children from a high school in Seoul, had been accounted for. With two fatalities, that would mean rescuers are still searching for 313 persons.

The vessel was carrying 477 people and 150 vehicles and left the port of Incheon late on Tuesday. Some 338 students and teachers of the Danwon High School in Ansan, Seoul were onboard the ferry.

Live news feeds show coastguard ships and helicopters plucking people from the ship that listed badly about 12 miles off the southwest coast. Within a few hours, the ship had totally capsized, with only its white and blue hull visible above water.

Cause of Sinking Still Unknown

The cause of the sinking was not immediately known and authorities said the sea was calm and the weather was apparently fine when the sea accident occurred. One witness said he heard a loud noise that followed an impact before the ferry started listing.

The coastguard said Sewol sent a distress signal early Wednesday morning, triggering the rescue operation that involved up to 100 coast guard and navy ships, private fishing boats, and at least 18 helicopters.