113-year-old Russian shipwreck found in waters off East Sea

SEOUL, July 18 (UPI) -- A South Korean salvage company said it's found a Russian warship that sank in the East Sea during the Russo-Japanese war in 1905.

The Shinil Group said it discovered the Russian cruiser Dmitri Donskoii of the Baltic Fleet in waters off South Korea's eastern Ulleung Island on Sunday.

The company released photos and videos of the warship on its official website. They feature the ship's anchor, deck, wheels and the nameplate "Donskoii."

Shinil also said the ship contains 5,500 boxes of gold bars and coins worth billions of dollars.

Seoul's Ministry of Oceans and Fisheries said in a press release that any excavation project must be approved and the company has not submitted an application.

Shinil Group said its exploration team found the shipwreck with two submarines Saturday and revisited the site again to confirm it's the long-lost Russian warship. It found a nameplate written "Donskoii," Chosun Biz reported.