The vessel, which is chartered by Eukor Car Carriers, was subject to a check of its cargo and for weapons. The crew of 12 Filipinos, 10 Bulgarians and two Ukrainians were unharmed. No South Korans were on-board.
The South Korean foreign ministry said the ship, which was travelling to reach its final destination of Germany, was captured by the Libyan Navy some 1,400km east of Misurata in the North African state's northwest region at 5 p.m. on Saturday.
The ship was set free at 7:54 a.m., Tuesday (Libyan time), and is now sailing “normally,” the ministry said.
The ship is carrying some 3,500 new cars and 1,500 second-hand vehicles.
The Morning Compass ran into trouble last week after failing to heed warnings that it was sailing in restricted waters, according to Libyan media reports.