Local police found the body about 4 kilometers south of the accident site at around 11:29 p.m. Wednesday.
The victim has been identified as a South Korean man in his 60s, according to a team of South Korean officials dispatched to Hungary soon after the news of the accident.
The vessel was carrying 33 South Korean tourists when it capsized following a collision with a larger cruise ship on May 29.
Among them, 16 have been confirmed to be dead and 10 others remain missing. Seven were rescued.