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A South Korean company's claims that it has discovered the wreck of a Russian warship containing $130 billion in gold "treasure" off South Korea has been met with skepticism from researchers and regulators in Seoul. Shinil Group, which was established last month, said Tuesday it had discovered the wreck of the Dmitry Donskoy, a Russian armored cruiser built in the 1880s and sunk in 1905 after battling Japanese warships.A South Korean construction company has also laid claim to being the first to discover the Russian warship, South Korean media said.Shinil Group's Park said KIOST's claim to have found the wreck was "fraudulent" and that the existence of gold is backed up by historical records.He said the company will unveil details about what it has found in the boxes at a press conference next week, and it plans to contract a Chinese salvage company to recover the wreck.
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