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It is believed that the warship, which was discovered off the island of Ulleungdo, was engulfed during the Russo-Japanese war and could have had on board the gold from an entire flotilla.
The Dmitrii Donskoi was an armored cruiser in the Baltic Fleet of the Russian Imperial Navy which was deployed in the Pacific during the Russo-Japanese War of 1904-55. The warship allegedly took part in the Battle of Tsushima which saw Russia defeated by Japanese warships
. historical accounts revealed that Dmitry Donskoy carried the treasure of the entire flotilla, which would have included port dues and also the salaries of sailors and officers.
The gold reserves of the various other ships that had been damaged during the battle could have been transported
The South Korean treasure hunt company, Shinil Group, has spent many years in Trying to find the treasure and now preparing a joint operation with companies from China, Canada and Britain recover the treasure
The company said in a statement: "We have spotted things that look like treasure , but we have not yet opened them. "
The Shinil firm is committed to spending 10% of the money found on the warship for investment projects on the ship. 39, U Challen Island, which is a popular tourist destination for South Koreans.
The museum is likely to have an exhibition on Captain Ivan Lebedev, who died a few days after the Battle of Tsushima
Russia will also receive an equal share of the money because they are the legitimate owners of the ship and helped the South Korean firm with their search for the wreckage.
The funds can be used for joint Russia and South Korea projects, such as a railroad linking Russia to Korea.
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