Yoo Byung-un, South Korea's most wanted fugitive, hid from police by stashing himself behind a wooden cabin wall, according to prosecutors.

Yoo, 73, went on the run after more than 300 people died in the sinking of a ferry in April, leading to a nationwide manhunt for the businessman whose company owned the doomed vessel.

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The fugitive's heavily decomposed body was found in a plum orchard in Suncheon last month.

Prosecutors told reporters on Wednesday that Yoon had evaded arrest by hiding behind the wall of a two-storey cabin on the outskirts of Suncheon.

Police raided the cabin in May but failed to find the multimillionaire, who had been wanted on embezzlement, breach of trust and tax evasion charges. They returned to the site in June after receiving information on Yoo's whereabouts from an assistant.

When police discovered Yoo's body, they also found empty bottles of alcohol, a copy of the book Yoo had written, and suitcases filled with cash at the scene, prosecutors said.

Prosecutors sought to arrest Yoo for his role in the ferry disaster. They said investigation showed that Yoo was the real owner of Chonghaejin Marine Company, the operator of the 6,825-ton ferry Sewol.

The tycoon and members of his family were accused of taking large sums of money from the company, leaving it with a tight budget to pay for safety training of the Sewol's crew.

The ferry disaster sparked nationwide outrage, especially after crew members were shown on video abandoning the vessel. They left behind the passengers , many  of them school children, after instructing them to remain in their cabins.

The Sewol's captain and 14 other crew members are on trial on several charges including negligence and homicide.

Prosecutors say members of the church that Yoo co-founded helped him hide from authorities. The church, now called the Evangelical Baptist Church, has denied aiding the fugitive.

TagsYoo Byung-un, south korea fugitive, south korea ferry disaster