A navy official said Wednesday that a patrol ship, using sonar, located wreckage 20 miles east of Geomun Island in Yeosu, The Korea Times reported Wednesday.
The navy and South Korean coast guard investigated the object, which is believed to be the wreckage of the Eastern Bright, which sank Tuesday en route to Taiwan. The navy determined the object was facing Taiwan and there are no similar objects nearby.
One Myanmarese sailor from the sunken vessel was rescued and 14 others -- 12 Koreans and two Myanmarese -- were missing Wednesday.
The rescued crewman said he believed he was the only person who was able to put on a flotation device before the ship went down. He said the sinking occurred while the crew was sleeping and he was awakened by the shaking of the ship.