Tearful S. Korea president says responsibility 'lies with me'

SEOUL (AFP) - South Korean President Park Geun-Hye took tearful responsibility Monday for the mishandling of last month's Sewol ferry disaster, admitting many lives were unnecessarily lost and vowing to dismantle the national coastguard.

"The ultimate responsibility for the poor response to this accident lies with me," Park said in a televised address to the nation, during which she openly wept and twice bowed deeply in a display of contrition.