Park's denunciation, in which she vowed to hold all those responsible for the disaster "criminally accountable," followed the release of a transcript showing the panic and indecision that paralysed decision-making on the bridge as the 6,825-tonne Sewol listed and capsized Wednesday morning.
The confirmed death toll stood at 64 but was expected to rise dramatically with 238 people still unaccounted for.
"The actions of the captain and some crew members were utterly incomprehensible, unacceptable and tantamount to murder," the presidential Blue House quoted Park as saying in a meeting with senior aides.
The families have criticised the official response to the disaster, saying the initial rescue effort was inadequate and mismanaged.
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"This is utterly unimaginable, legally and ethically," she said.
A transcript released yesterday of the final radio communications between the Sewol and marine transport control underlined the confusion that reined as the vessel listed sharply to one side after making a distress call.
Marine control ordered the crew to ensure all passengers were wearing life jackets, while the ship repeatedly questioned whether vessels were on hand to rescue people once they started to abandon ship.
"Make them wear a life ring at least and let them float. Now!" the control official insisted.
"Precious minutes just wasted," was the front page verdict of the Dong-A Ilbo daily today.