Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Chung denies wrongdoing in payments to Haiti, Pakistan

Published 08/19/2015, 04:12 AM
Updated 08/19/2015, 04:12 AM
© Reuters. Former FIFA vice-president Chung Mong-joon of South Korea attends a news conference in to formally launch his bid to become president of world soccer's governing body

By Peter Rutherford

SEOUL (Reuters) - FIFA presidential candidate Chung Mong-joon said on Wednesday that payments he made to Haiti and Pakistan in 2010 were "charitable donations" and any attempt to use them as part of a reported ethics investigation was "cynical and unethical".

Responding to media reports that world soccer's governing body was investigating the South Korean billionaire over the 'disaster relief' funds, Chung said in a statement he had been donating money to causes at home and abroad since the 1990s.

"Recent media reports allege that FIFA has started an investigation into FIFA Honorary Vice President Dr. Chung Mong-Joon's 2010 donations to disaster relief funds to Haiti and Pakistan," said the statement. 

"If these reports are true, we condemn this as a cynical and unethical effort by FIFA to misrepresent even charitable donations for political manipulation."

FIFA's ethics committee does not comment on ongoing cases and there has been no confirmation from the governing body that Chung is in their crosshairs.

The scion of Korea's Hyundai industrial conglomerate formally launched his bid to replace Sepp Blatter as FIFA president in Paris earlier this week with a stinging attack on Blatter and Michel Platini, head of Europe's ruling body UEFA and a rival candidate for the FIFA presidency.

Blatter responded by saying he was "disturbed" by Chung's criticism, noting the South Korean had been an influential member of FIFA for 17 years until 2011.

WORST CRISIS

FIFA will hold an elective congress on Feb. 26 to decide on a replacement for Blatter, who is standing down following the organization's corruption scandals.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

U.S. prosecutors indicted nine soccer officials, most of whom had FIFA positions, and five marketing and broadcasting company executives, in May over a range of alleged offences, including fraud, money-laundering and racketeering.

Blatter was re-elected for a fifth term as FIFA president on May 29, but four days later said he would lay down his mandate amid the worst crisis in the body's history.

Chung, who told Reuters late last month he was wary of Blatter trying to sabotage his campaign, also said in the statement he had provided relief assistance to many different countries including Turkey, Bangladesh, China and Myanmar.

"As chairman of the Asan Foundation, the largest philanthropic organization in Korea, Dr. Chung also helped the foundation provide medical assistance to victims of the Indonesian tsunami, 2005 Pakistan earthquake, and Sri Lankan tsunami," the statement said.

"In January 2010, as chairman of the ruling Grand National Party in the Korean National Assembly, Dr. Chung also announced at a party meeting he would personally donate money to earthquake relief efforts in Haiti."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.