Davies opened the scoring from the spot after Kevin Nolan handled before Chung-Yong Lee swept in for 2-0.
An unmarked Chung-Yong Lee doubled the lead a minute later with a clinical finish at the back post.
Barring a shot from Chung-Yong Lee, which flew over the bar, they created very little in a first half that showcased plenty of effort but little creativity.
Bolton struggled to create many chances at the other end but were unfortunate not to win a penalty when a cross from Chung-Yong Lee deflected off Terry's upper arm.
The hosts wanted a penalty after for a challenge on Chung-Yong Lee by Jamie Carragher, and they were appealing again when Paul Robinson's left-wing cross appeared to brush the same defender's arm.
Only Chung-Yong Lee down their right seemed capable of upping the tempo and his dangerous cross was crucially headed away by Gary Caldwell, with Johan Elmander all set to nod home from three yards.
Elsewhere, Bolton manager Owen Coyle was given a hostile reception at former club Burnley but came away with a 1-0 win thanks to Chung-Yong Lee's 35th minute strike which rattled in off the underside of the crossbar.
The goal inspired some open early exchanges, Sam Ricketts making a sliding intervention to keep out Stephen Hunt who was poised to strike for Wolves at the far post, while for Bolton Chung-Yong Lee's touch deserted him when a neat knock-down from England striker Kevin Davies found him well placed inside the area.
Gonzalo Higuain scored a hat-trick for Argentina in what was a comfortable win despite Lee Chung-Yong's goal making it 2-1 just before the break.
Following a free-kick where Gary Cahill made a nuisance of himself, Lee Chung-yong beat the Everton defence to a header and Sturridge was free to smash in from the angle.
One player to prosper in the murky conditions was South Korean Lee Chung-yong, who sent in a teasing early cross from the right.
Owen Coyle's side then doubled their advantage from the penalty spot through Matthew Taylor after Arsenal midfielder Denilson had fouled Lee Chung-yong inside the area.
But as Greece pushed forward, South Korea attacked the large areas of vacant space, with Bolton's Lee Chung-yong's 18-yard strike pushed past the left-hand post by Tzoras in the 85th minute.
Diego Maradona's men doubled their lead when Messi and Maxi Rodriguez combined for Higuain to head home before Lee Chung-Yong halved the deficit by capitalising on a Martin Demichelis error with a superb finish beyond Sergio Romero.
An own goal from Park Chu-Young got Argentina off to the perfect start before Higuain nodded in, and after Martin Demichelis' error allowed Lee Chung-Yong to pull a goal back, Maradona's side got the goals their dominance perhaps deserved.
The Koreans led 2-0 inside the first 10 minutes in the sodden conditions at Al-Gharafa Stadium as Ji Dong-won scored the first of his two goals with a header after keeper Paul Subrata failed to deal with Lee Chung-yong's cross.
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