Ahn Cheol-soo to Announce Presidential Bid

Software tycoon Ahn Cheol-soo will give a press conference at 3 p.m. on Wednesday to announce his presidential bid, a close associate said. In an e-mail to the press Monday, Yoo Min-young said Ahn "will discuss public opinion he has gathered in relation to running for the presidency and announce his own decision."

Yoo added Ahn will also answer questions from reporters and that only one reporter from each media outlet will be allowed to attend the press conference.

Ahn is said to have already prepared a statement, and supporters from various walks of life are also expected to attend. Ahn will likely answer questions on important issues including whether there should be a single candidate representing the progressive camp, which would likely come down to a choice between Ahn and Democratic United Party presidential candidate Moon Jae-in.

Both Ahn and Moon are expected to try to shore up support for the time being before starting talks after Chuseok or Korean Thanksgiving.