US President Barack Obama on Friday conveyed his token of condolences for victims of the South Korean ferry sinking disaster to President Park Geun-hye before holding summit with Park in Seoul, presidential office Choeng Wa Dae said.

Obama proposed to Park, before starting a dialogue with her, paying a silent tribute to the victims and the dead in the ferry sinking incident where more than 300 people have been confirmed dead or missing.

The US president expressed a deep sorrow as a great damage was done to especially young people, showing his deep condolences to all the victims as a representative of all American people.

Obama also conveyed to Park an American flag hoisted at the White House on April 16 when the 6,825-ton ferry capsized and sank off the country's southwestern coast.

He said the United States has a tradition of conveying the Starts and Stripes to the bereaved families of soldiers dead, noting it represents the nation's pride toward South Korea as its ally.

The US president also sent magnolia saplings, taken from the White House, to Danwon High School in Ansan, a city south of Seoul. Among the 476 passengers aboard the sunken vessel were 325 students and 14 teachers of the school.