In Korean, the rock itself is known as Ieodo or Parangdo. Internationally it is known as Socotra Rock, and in Chinese, it is known as Suyan Islet, which means the "rock" or "reef" outside the coastal waters of Jiangsu.
History
Both "Parangdo" and "Ieodo" are names for the mythical island which the residents of Jeju Island believed housed the spirits of fishermen who perished at sea. The South Korean government has asserted a direct connection between these legends and the modern-day rock, claiming that the traditional saying that "One who sees Parangdo would never return" refers to the danger facing sailors when high waves allow the rock to break the surface. Koreans even name the studies about Ieodo as "Ieodology". Socotra Rock's Korean name was officially designated as "Ieodo" on 26 January 2001, by the Korea Institute of Geology.
Timeline
1900: Socotra Rock is discovered by the British merchant vessel Socotra.
1910: Socotra Rock is surveyed by the British vessel Waterwitch, which measures the depth at less than. Vice Admiral Archibald Day, however, wrote in his book The Admiralty Hydrographic Service, 1795 - 1919 that this survey was 1901 not 1910.
1938: The Japanese government surveys the rock. Plans are laid for a research station, but are cut short by the outbreak of World War II.
1951: A joint team of the Republic of Korea Navy and the Korea Mountain Climbing Association reaches the rock and lowers a bronze marker bearing the legend "Ieodo, Territory of the Republic of Korea" onto its surface.
1952: South Korea promulgates the Syngman Rhee Line, which defined the country's territorial waters as including Socotra Rock. This was not recognised by the People's Republic of China or other neighbouring countries.
1963: Yuejin shipwreck: The Chinese vessel Yuejin sinks on her maiden voyage en route from Qingdao to Nagoya after being struck by an underwater object. The crew of the ship claimed to have been attacked by a torpedo, causing an international affair. It was later found that due to a navigational error by the crew, the "Yuejin" had actually struck Socotra Rock which was marked on navigational charts at the time. This was not recognized by the Koreas or other neighboring countries.
1963 5.1-6.3,Shanghai Riverway Bureau fleet finds the shipwreck southeast of Socotra Rock.
1970: South Korea's Underwater Resource Development Law was enacted, defining Socotra Rock to lie within the country's fourth mining field. This move was not recognised by the PRC.
1995-2001: the Republic of Korea builds the Ieodo Ocean Research Station on Socotra Rock despite the objections from People's Republic of China. Several overflights of the area have since been made by the PRC surveillance aircraft.
2001: the Korea Institute of Geology officially designates the rock as "Ieodo" on 26 January 2001.
Dispute
According to the United Nations Convention on the Law of the Sea, a submerged reef can not be claimed as territory by any country. However, China and South Korea dispute which is entitled to claim it as part of the Exclusive Economic Zone. In September 2006, the Chinese Foreign Ministry spokesman Qin Gang told reporters that China objects to South Korea's "unilateral" activities in the region, referring to Korean science observation facilities on this reef island, which the Chinese Foreign Ministry spokesman has claimed to be "illegal". However, Chinese reports notes that Qin Gang said the two countries never had a "territorial dispute", not mentioning any islands. In 2013, the PRC clarified their position by stating that China had no dispute with Korea on the issue.
