Chung Mong-joon has formally announced his intention to stand for the Fifa presidency at next year's elections.
Elections to replace outgoing president Sepp Blatter will take place in February next year, after Blatter confirmed his intention to step down in June following the damaging corruption scandal that has engulfed the organisation.
Blatter was re-elected for a fifth term when the crisis was unfolding, but later confirmed a new president would be elected at an extraordinary congress in February.
Uefa president Michel Platini has stated his intention to run for the office, while fellow former football icon Zico and Liberia FA chairman Musa Bility will stand as well and wealthy businessman Chung has now joined the race.
"Today Fifa is undergoing a profound crisis," the South Korean at a news conference in Paris on Monday.
"Under these circumstances, the Fifa president must be a crisis manager and a reformer.
"Fifa needs a leader who can bring back common sense, transparency and accountability.
"For any successful organization to be free of corruption, it needs periodic change of leadership.
"Absolute power corrupts absolutely, organisations begin to corrupt when the leader thinks he is indispensable.
"If I'm elected I will serve one term of four years. I can change Fifa in four years, this is my pledge to all football fans in the world."
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