Koreans to elect new K-League chairman
The 49-year-old is also owner of K-League side Busan I'Park - one of 16 top-flight clubs.
If approved, Chung would replace Kwak Chung-hwan, who stepped down earlier this month with one year left of his term saying he was taking responsibility for declining attendance and television ratings and for lacklustre corporate interest in the league, state news agency Yonhap reported.
Following Kwak's resignation, five K-League officials formed a committee to seek his replacement and nominated Chung.
The committee, which included club presidents and general managers, said Chung had agreed to take the helm and plans to present ideas to improve the K-League.
K-League chairmen serve three years in their first term and can be re-elected.