Correction appended, July 31
Chung Mong-joon, a 63-year-old South Korean billionaire who has a controlling stake in the shipbuilding company Hyundai Heavy Industries, says he will throw his hat into the race to replace Sepp Blatter as FIFA’s president.
Blatter, who served five terms as president of the embattled global soccer-governing body, will be replaced in an election slated for February 26, 2016, CNN reports.
Chung has told various news outlets that he will formally announce his candidacy by next week.
He’s up against some pretty well-known names already, according to CNN, including French former soccer star Michel Platini and Brazilian footballer Arthur Antunes Coimbra (popularly known as Zico), who have both confirmed their intentions to run.
Chung does have some football chops, though. He is a former FIFA vice president and also the president of the Korea Football Association (KFA). Under his 17-year stewardship, the KFA increased its budget from $3 million to $100 million, CNN reports.
So far, he has pledged to turn scandal-ridden FIFA around. “It’s not easy, but people don’t want to be part of corruption. They want to be part of the solution,” he told Reuters. “We cannot leave FIFA in this kind of disgrace.”
Correction: The original version of this story and the headline incorrectly described Chung Mong-joon. He is the controlling shareholder of the shipbuilding company Hyundai Heavy Industries.
- Inside the Massive Effort to Change the Way Kids Are Taught to Read
- Dubai's Real Estate Market is Booming. One Company is Making It Possible to Invest From Anywhere in the World
- How to Exercise When It's Really Hot Outside
- A New Documentary Sheds Light on a Pivotal Movement in Asian American History
- Far From Home: Afghan Women are Attempting to Build New Lives Abroad
- What Experts Say About How Valuable The Inflation Reduction Act's Green Subsidies Will Be
- What to Know About Long COVID in Kids
- Want to Do More Good? This Movement Might Have the Answer