Chung Mong-joon, a seven-term lawmaker of the ruling Saenuri Party, said Wednesday he will announce his bid for mayor of Seoul next week.

Chung, 62, has long been regarded as one of three ruling camp figures with a strong chance of winning the party’s nomination to run for Seoul mayor in the June 4 local elections for mayors, governors, council members and education superintendents.

“I will announce my bid on Sunday,” Chung told reporters after a party meeting at the Saenuri headquarters in Seoul. “It’s time to stop thinking and start enjoying.”

The lawmaker doubles as chairman of Hyundai Heavy Industries Co., the world’s biggest shipbuilder, and served as vice president of FIFA from 1994-2010.

The other two ruling party favorites for Seoul mayor are former two-term lawmaker Lee Hye-hoon and former Prime Minister Kim Hwang-sik. Lee announced her bid earlier this month, while Kim is expected to officially join the race in March after returning from the United States, where he is currently on an academic visit.

The June elections are seen as a mid-term confidence vote for the Park Geun-hye government, which marked the first anniversary of its inauguration on Tuesday. (Yonhap)