The ship is owned by a Chinese firm and flagged in Panama, and its crew is nearly all Chinese with one Vietnamese.
The 8,461-ton ship had anchored off the port city of Pohang but high waves forced it against the seawall Tuesday afternoon, a coast guard statement said.
All 19 people on board were listed as missing about 14 hours after the accident as winds and waves hampered rescue efforts.
Early on Wednesday, coast guard rescuers found eight sailors either floating in the sea or waiting for help on the front of the ship. Most of the vessel has sunk.
The 8,461-ton ship had anchored off the port city of Pohang but high waves forced it against the seawall Tuesday afternoon, a coast guard statement said.
All 19 people on board were listed as missing about 14 hours after the accident as winds and waves hampered rescue efforts.
Early on Wednesday, coast guard rescuers found eight sailors either floating in the sea or waiting for help on the front of the ship. Most of the vessel has sunk.