The bus - carrying 45 passengers - was not speeding this morning when it suddenly swerved and flipped to its side, South Korea's Yonhap news agency cited a survivor as saying.
Police said the exact cause of the accident is still under investigation.
"Some were pinned on top of each other on the floor after the bus flipped," the 70-year-old survivor, identified only by his surname Lee, was quoted as saying by Yonhap.
The injured have all been taken to hospital, with eight people in a critical condition.
The passengers were members of a hiking club on their way to a mountain in South Chungcheong province.
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