Seoul: South Korean Olympic chief Ryu Seung-min on Monday faced accusations of violating financial incentive rules during his tenure as head of the national table tennis governing body.

According to Yonhap News Agency, the Korea Sport Ethics Center, under the Ministry of Culture, Sports and Tourism, has announced plans to demand disciplinary actions against two current and former executives of a national sports federation for professional malpractice. Additionally, four individuals, including Ryu, are being scrutinized for professional negligence and rule violations. Although the ethics center did not name the organization involved, it has been confirmed to be the Korea Table Tennis Association (KTTA), where Ryu served as chief from 2019 to 2024.

Ryu, who was elected as president of the Korean Sport and Olympic Committee (KSOC) in January this year, is now under review by the KSOC following the ethics center's demand for penalties against its leader. An official from KSOC mentioned that an appeal against the ethics center's demand is a possibility.

According to the ethics center, it was found that two executives either handed out or received financial incentives after securing sponsorship deals, despite KTTA rules prohibiting executives from accepting any monetary rewards. During his KSOC election campaign, Ryu was accused by rival candidates of accepting incentives for winning sponsorship contracts. However, Ryu denied receiving any money for securing deals worth 2.85 billion won (US$2.01 million) and stated that the KTTA had been transparent in annual financial audits by the KSOC.

Although Ryu himself did not receive any monetary incentives, he may still be held accountable for the illicit rewards distributed during his presidency at KTTA. Ryu expressed his willingness to accept the ethics center's decision but defended the KTTA's practice of offering cash rewards for securing sponsorships, arguing that such incentives were meant to promote "aggressive marketing activities" for the financially struggling KTTA.

"I regret that I did not look into rules carefully, even if decisions were made for the good of the sport," Ryu admitted.

Additionally, the ethics center highlighted that the KTTA replaced a player on the 2021 Olympic team without following established procedures. According to the center, a KTTA official initially advocated for one player to be on the national team, but Ryu noted that another player had a superior track record, leading to the change. The center emphasized that the KTTA should have convened a competition committee meeting to evaluate the proposed roster change.