The wreckage of the ship. / Courtesy of Shinil Group
The Shinil Group’s announcement on July 17 that it had located the Dmitrii Donskoi, a Russian cruiser that went down 113 years ago, just two days before created a sensation, with the stock price of Jeil Steel (in which the Shinil Group holds a majority share) soaring and setting a new record.But the next day it turned out that the Dmitrii Donskoi was not a new discovery by the Shinil Group but had actually been found fifteen years before by the government-funded Korea Institute of Ocean Science and Technology (KIOST), which had also attempted to raise the wreck.
KIOST furthermore argued that the Shinil Group had located the Donskoi through the unauthorized use of location information that belonged to the institute, which raises questions about the credibility of the Shinil Group’s assertion that it is “the first to discover the Dmitrii Donskoi and the only proven right holder.
”For now, therefore, extreme caution and care are probably required for the various projects and deals organized by the Shinil Group and promoted with rumors that the Donskoi is loaded with 150 trillion won (US$132.41 billion) worth of gold coins and gold bars. Jumping into these projects could have unforeseen consequences.“We had already discovered the Donskoi in 2003 and even released photos. It’s preposterous for the Shinil Group to claim ownership as if they’d been the first to find it,” a key official at KIOST said during a phone call with the HuffPost on July 18. [Hankyoreh]
You can read more at the link, but if another group found the ship 15 years ago it seems to me they would have removed any gold that was there by now, assuming there was any gold to begin with.
A ship that sunk off of Ulleungdo in 1905 that had previously fought in the Russo-Japanese has been discovered by Korean treasure hunters:
The wreckage of the ship. / Courtesy of Shinil Group
A Russian battleship that sank 113 years ago in waters off South Korea’s Ulleung Island ― allegedly carrying tons of gold coins and bars ― has been located.
The rusty hull of the Dmitri Donskoii was found on the seabed a kilometer from the island’s Jeodong-ri and 434 meters underwater, said Shinil Group, a South Korean company which has endeavored to find the ship for years.
“We found the body of the Dmitrii Donskoi 434 meters deep in seas 1.3 kilometers off Ulleung Island at around 9:50 a.m., Sunday,” Shinil Group said.
The vessel’s shape and details were “confirmed to be identical with the Dmitri Donskoii,” the company said. It inspected the wreckage with two manned submarines on Saturday. [Korea Times]
You can read the rest at the link, but the ship was rumored to be filled with gold worth $133 billion today. The treasure hunters are in the process of trying to lift the ship to look for the gold. If a billions in gold is discovered, I think it may pose an interesting legal challenge from the Russians because it is technically their property.
