The incident came a month after the deadliest air disaster on South Korean soil when a Jeju Air plane crashed on Muan Airport's runway as it made an emergency belly landing, killing all but two of the 181 people on board.

Shares of Air Busan dropped on Friday, after a plane belonging to the budget carrier caught fire earlier this week.

A passenger plane has caught fire before takeoff at an airport in South Korea, but all 176 people on board have been safely evacuated.

South Korean officials are launching an investigation into the cause of the fire that engulfed an Air Busan passenger plane, with eyewitness accounts suggesting a power bank may have sparked the blaze.

Passengers evacuated from an Air Busan plane that was engulfed in flames this week at a South Korean airport will have their checked baggage returned to them, after authorities on Friday deemed the jet safe for a full investigation.