The vessel was still burning and appeared to be sinking, RCCNZ said.
The rescuing vessels said they were unable to leave the area due to ice and fog and planned to transfer the injured seamen from the Jeong Woo 3 to the US research vessel Nathaniel B. Palmer, which is steaming north to meet them.
The Nathaniel B. Palmer had suitable medical facilities on board and, after medical assessment, may sail to McMurdo Base to put the injured seamen ashore for further treatment and possible evacuation to New Zealand.
A number of other vessels were also responding and had been asked to rendezvous with Jeong Woo 3 and the Hong Jin 707 to take the uninjured crew as the two vessels were unable to proceed with the significant numbers of extra people on board.
The Jeong Woo 2 issued a distress call early today. It was picked up by Hong Jin 707 and relayed to RCCNZ by the NZ vessel Antarctic Chieftain just before 3am (NZDT).