South Korean Billionaire To Stand For FIFA Presidency

South Korean tycoon Chung Mong-joon said on Thursday that he wants to replace Sepp Blatter as the next president of world football governing body FIFA, British media reported.



Chung, a former FIFA vice president and the biggest shareholder of auto manufacturer Hyundai, said UEFA chief Michel Platini, who announced his candidacy on Wednesday, was not the man to reform the organization.



"If I get elected, my job is not to enjoy the luxury of the office. My job is to change it," Chung told the BBC's World Football program.



Chung, 63, said Platini, who has led European football's governing body since 2007, could not implement meaningful reform because he was "a product of the current system."



He added: "It is time that FIFA had a non-European leadership. FIFA became a closed organization for President Blatter, his associates and his cronies and I want to change that."



According to Forbes magazine, Chung is worth $1.2 billion. He lost his FIFA vice presidency in 2010.



Blatter is due to stand down as FIFA president following corruption allegations against senior figures in the organization. - Ankara