Chung Mong-joon, a veteran lawmaker and a son of the late Hyundai Group founder has declared his candidacy for president of South Korea.
The presidential election is scheduled for Dec. 19 with incumbent President Lee Myung-bak barred by law from seeking re-election.
Chung was re-elected to parliament for a seventh straight term in the April 11 general elections. It was Chung's second time being chosen to represent a Seoul electoral district, after serving five terms in the southeastern city of Ulsan, where the world's largest shipyard, Hyundai Heavy Industries Co., is based.
The lawmaker is a son of late Hyundai Group founder Chung Ju-yung and the biggest shareholder of Hyundai Heavy Industries.