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The crew boarded lifeboats as the list increased.
They were picked up by a tanker the 1,200-dwt Yu Jong 2 (built 1986) five hours later. No injuries were reported.
The MSA said it did not carry out any rescue activities as a result.
The Japanese organisation said the Chong Bong was en route from Chongjin to Songnim in North Korea with an iron cargo, adding that oil had been spotted in the area.
The MSA added that the weather was not particularly severe at the time of the accident.
The vessel is operated by Chongbong Shipping, according to Equasis.
Exporting North Korean coal? ....

North Korea , Chong Bong , North Korea General , Yu Jong , P Yongan Bukto , North Korean , Japan Maritime Security Agency , Us Office Of Foreign Assets Control , Oki Islands , Maritime Security Agency , Chongbong Shipping , Foreign Assets Control , வடக்கு கொரியா , சோங் போங் , வடக்கு கொரியா ஜநரல் , யூ ஜாங் , வடக்கு கொரியன் , எங்களுக்கு அலுவலகம் ஆஃப் வெளிநாட்டு சொத்துக்கள் கட்டுப்பாடு , ஓகீ தீவுகள் , வெளிநாட்டு சொத்துக்கள் கட்டுப்பாடு ,