Difference between SERVICE ENGINE SOON and CHECK ENGINE light?

Is there any difference? I have a Ford Mustang 2002 and my SERVICE ENGINE SOON light is on. Does it mean something is wrong with my car? Do Mustangs also have a CHECK ENGINE light?

The check engine light means stop car and check fluids and engine condition right NOW.
The service engine soon light means it needs an oil change or there's something that will soon cause a problem, but you have time to get to a shop or mechanic.