[KH explains] Why Korea has been so quick to adopt ‘global minimum tax’
Health services disrupted as mass walkout by trainee doctors approaches deadline
[Today’s K-pop] Karina of aespa is dating actor Lee Jae-wook: report
South Korea’s fertility rate drops to new low
[Chung Chan-seung] The collapse of trust: South Korea's true health care crisis
[Herald Interview] Rival heir to Kim Ju-ae unlikely to appear: unification minister
University ranking hierarchy leads to wage gap later in life: study
US Navy secretary scouts Korean shipbuilders for fleet support
Interior minister renews calls for trainee doctors to return to work
[Kim Seong-kon] Why is ‘The Birth of Korea’ in cinemas now?
Police raid local firm in probe of its claimed discovery of Russian shipwreckBy Yonhap
Published : Aug. 7, 2018 - 09:46
Police on Tuesday raided the office of a local company that claims to have discovered the wreck of a sunken Russian warship from the early 20th century, as part of a probe into allegations that it may be a scam.
The white collar unit of the Seoul Metropolitan Police Agency sent 27 investigators to search the premises of Shinil Group in Yeouido, western Seoul, and seven other locations to confiscate evidence, the agency said.
Shinil Group announced on July 15 it found the wreck of the Dmitrii Donskoi, a Russian warship that disappeared in 1905 during the Russo-Japanese War. It released submarine footage of what it claimed to be the wreck beneath the waters off Ulleung Island, east of the peninsula.
Rumors began to spread that the ship had gone down with 200 tons of gold, worth 130 trillion won ($116 billion), leading the local stock market to fluctuate.
Its Singapore-based affiliate at the time allegedly tried to sell investors the cryptocurrency issued based on the potential value of the shipwreck.
The firm attracted investors by saying the coin's value will jack up to 10,000 won by the end of September this year, from the current 200 won.
Speculation spread quickly that Shinil may be running a scam.
It had a second press conference in which it adjusted the value estimate of the treasure to 10 trillion won. In the document it submitted to the maritime ministry for excavation approval, the estimated value was 1.2 billion won.
Another firm claiming to have discovered Donskoi ahead of Shinil filed a complaint seeking a criminal investigation against the company, which shut down after rumors about it spread.
Shinil's chief Choi Yong-seok has been banned from leaving the country. On Monday, Interpol accepted Korean authorities' request to list Choi and another key suspect surnamed Rhu on its Red Notices, police said. (Yonhap)
[KH Explains] What does Apple's dead car project mean for Samsung, Hyundai?
Yoon, Zuckerberg discuss AI, digital ecosystem in Seoul
Cho, Blinken pledge 'watertight' response to any NK provocations