South Korea's football chief to run for president

Riding on a wave of popularity created by South Korea’s performance in the World Cup, the head of the country’s Football Association today announced he is to run for presidential office.

Multi-millionaire Chung Mong-joon said he hoped to take over the reins from President Kim Dae-jung in December elections.

“I’ll formally announce my presidential bid on September 17,” Chung said in a news release.

Chung, 50, who heads the South Korea Football Association and is a vice president of Fifa, the sport’s world governing body, has long been considered a possible contender. Today’s statement confirmed his candidacy for the first time.

Chung’s popularity surged following South Korea’s successful run in the World Cup, becoming the first Asian nation to reach the semi-finals.

Recent opinion polls showed Chung trailing slightly behind Lee Hoi-chang, the candidate of the main opposition Grand National Party but ahead of Roh Mu-hyun, the candidate of the pro-government Millennium Democratic Party, which was previously associated with President Kim.

President Kim quit the pro-government party early this year because of corruption scandals involving two of his sons and aides, which were eroding support for Roh.

Chung has not announced details of his presidential bid, including his platform. Aides say it has yet to be decided whether to form a new party ahead of the December 19 elections.

Some pro-government politicians, who are pushing to form a new party ahead of the presidential voting, are wooing Chung to become their standard bearer. Chung has not yet responded to the proposal.

If Chung becomes the candidate for the envisioned new pro-government party and Roh decides not to run, he would win the elections, polls have shown.

Chung is the controlling shareholder in Hyundai Heavy Industries, the world’s largest shipbuilder.

Chung’s father, Chung Ju-yung, founded the giant Hyundai group that comprised the shipbuilder.

It disintegrated into several small groups in the aftermath of the Asian financial crisis that hit South Korea in 1997-98.

The senior Chung, who died last year at age 86, ran for president in 1992 but ended up a distant third. He was later sentenced to three years in prison for using company funds to bankroll his presidential campaign but the jail term was not enforced because of his advanced age.

President Kim’s single five-year term ends in February. He is barred by the Constitution from seeking another term.

Chung’s popularity is partly linked with South Korea’s success in the World Cup. After the World Cup, soccer has replaced baseball as the largest spectator sport in South Korea.