South Korea’s leading low-cost carrier, heavy with debt and its stock already near record lows, is now facing intense public and government scrutiny.

After overcoming pariah status at the end of the last century, South Korea must learn what caused the catastrophe on Dec. 29 and what lessons to draw from it.

South Korea's transport minister said on Tuesday he intends to step down to take responsibility for the deadly crash of a Boeing jet operated by Jeju Air on Dec. 29.