Chung Mong-joon, a billionaire and longstanding member of the National Assembly, followed on 29 April. In his announcement, Chung emphasized the need to confront regionalism and factional politics, and stated that he would "write a new history of the Republic of Korea by facilitating [his] experience of managing a business, engaging in diplomacy and creating unity in the nation". He stressed that his task was to "bring together the divided hearts of the people" and that he was concerned that the "country could collapse in its current situation". Like Kim Moon-soo, Chung is expected to be at a disadvantage to Park. Chung previously declared his candidacy in the 2002 presidential elections but later dropped out to endorse Roh Moo-hyun.
