Let $K$ be a field and $n \geq 1$. Then the set of isomorphism classes of vector bundles over $\mathbb{P}^n_K$ is a semiring (i.e. almost a ring, but no additive inverses are possible). By introducing additive inverses, we get the $K$-theory of $\mathbb{P}^n_K$, which is known to be $\mathbb{Z}^{n+1}$. But is it also possible to compute exactly the semiring?

For $n=1$, there is a result by Dedekind-Weber (1892) which proves that the semiring is $\mathbb{N}[x,x^{-1}]$, where $x=\mathcal{O}(1)$ (related topic). Some months ago, I was told that the structure is far more complicated for $n>1$. Can anybody elaborate this or even give a presentation of the semiring?

If necessary, you may assume $K = \mathbb{C}$.