Chung to become new chairman of K-League

Chung Mong-gyu, chairman of the South Korean construction firm Hyundai Development Co., was nominated Wednesday as the new chairman of the first-division football league in Korea.

If approved, Chung, 49, will replace Kwak Chung-hwan, who recently resigned as head of the K-League. The league will convene a general assembly today to formally elect him.

Chung also serves as the owner of Busan I’Park FC, one of 16 teams in the K-League.

Kwak, who had been the K-League chief since 2005, stepped down on Jan. 14 with one year left in his term. The 74-year-old said he would take responsibility for declining attendance and television ratings and for lackluster corporate interest in the league.

Following Kwak’s resignation, five K-League football officials formed a committee to seek his replacement, and they nominated Chung. A K-League chairman serves three years in his first term and may be eligible for re-election.

Chung is a nephew of Hyundai Group founder, Chung Ju-yung, and a cousin of Hyundai-Kia Automotive Group Chairman Chung Mong-koo.

Yonhap