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SEOUL -- A fishing boat sank off South Korea's southern resort island of Jeju on Friday, leaving two people dead and 12 others missing, Yonhap news agency reported citing the country's coast guard.

A distress call was sent to the coast guard at around 4:33 a.m. local time (1933 GMT Thursday) that the 129-ton vessel with 27 crew members aboard was sinking in waters about 24 km off Jeju's Biyang island.

Of the crew members, including 16 South Koreans and 11 foreigners, 15 were rescued with two of them found in a state of cardiac arrest and pronounced dead later.

Rescuers were searching for the missing 12 sailors, including 10 South Koreans and two foreigners.

The fishing boat suddenly capsized and sank while transferring its catch to another vessel, according to the rescued crew members.