S. Korean software mogul announces presidential bid

SEOUL - Ahn Cheol-soo, a popular South Korean entrepreneur-turned-professor, broke his long silence Wednesday to officially declare his presidential bid.

Seoul National University professor and popular software entrepreneur Ahn Cheol-soo speaks during a news conference at the Salvation Army Art Hall in Seoul Sept 19, 2012. [Photo/Agencies]

"People have expressed their aspirations for political changes through me," the mild-mannered 50-year-old Seoul National University professor told a throng of reporters during a nationally televised press conference. "I will run for president."

The announcement ended months of frenzied media speculation over the future political trajectory of Ahn, long considered one of the strongest potential presidential hopefuls looking to replace President Lee Myung-bak when his five-year term ends early next year.

The soft-spoken millionaire philanthropist, who founded the anti-virus software firm AhnLab, said the current political system fails to represent the popular will and the economic system widens the wealth gap.

"We need a new economic model," he said. "We need economic innovation that combines economic democratization, welfare policy and growth momentum."

Opinion polls have suggested Ahn is the only one who can challenge the matchless presidential candidate of the conservative ruling Saenuri Party, Park Geun-hye.

Moon Jae-in, nominated last Sunday as the presidential candidate of the center-left main opposition Democratic United Party, has even publicly proposed a coalition government with Ahn.

An untested political novice, Ahn emerged as an unlikely kingmaker during the closely watched Seoul mayoral election last year.

He is widely expected to play a similar role for the December poll by endorsing Moon later in the campaign, though he managed to duck direct questions concerning such prospects.

The software mogul became a household name through television appearances and nationwide town hall meetings with youngsters, unwittingly finding himself in the middle of the so-called "Ahn Cheol-soo phenomenon".

While Ahn has received a barrage of attacks in recent weeks from conservatives, who once openly courted him to join their camp, he remains widely popular among the moderates and independents disenchanted with the political establishment.

The presidential election is slated for Dec 19, with incumbent President Lee Myung-bak constitutionally barred from seeking re-election.

Seoul National University professor and popular software entrepreneur Ahn Cheol-soo (C) arrives for a news conference at the Salvation Army Art Hall in Seoul Sept 19, 2012. [Photo/Agencies]