Sources in Monte Carlos said Monday Kim Un-yong, President of the Korean Olympic Committee (KOC) and president of the General Association of International Sports Federations (GAISF), will declare his candidacy for the next presidency of the International Olympic Committee (IOC).

The 70-year-old KOC president will give a press conference Monday at a hotel in Monte Carlos to announce his bid to succeed the incumbent IOC President Juan Antonio Samaranch, who will retire in July.

The elections will be held on the closing day of the 112th Session of the IOC in Moscow from July 13 to 16. On the first day of the session, the IOC will take votes to elect the host city of the Games of the XXIX Olympiad in 2008.