The Sewol sank off the south-western island of Jindo on 16 April 2014 killing 304 people, almost all school children on a trip.
It has been winched to the surface so a platform can be inserted under it for it to be towed ashore.
It is expected to arrive at port in less than two weeks, where it will be met by the families of victims.
The bodies of nine victims are believed to still be trapped inside the sunken ship, and raising it was one of the central demands of their families.
The sinking was blamed on a combination of illegal redesigns, cargo overloading, the inexperience of the crew member steering the vessel, and lax government regulations. The ship's captain was later convicted of murder.
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http://www.bbc.com/news/world-asia-39361944
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