Chung, 63, a major shareholder in Hyundai, said he was being investigated over his "support" for South Korea's 2022 World Cup bid when he proposed the launch of a Global Football Fund.
He has strenuously denied any wrongdoing, insisting he had not broken any rules and would fight the charges.
"Ultimately, I will prevail and will be vindicated," he said.
Chung, a former Fifa vice-president, declared his intention to run for the presidency in July, saying he was the right man to reform Fifa.
Blatter is standing down as president in February 2016 following a series of serious corruption allegations against the scandal-hit organisation.
Last week, the 79-year-old rejected calls to stand down immediately after Swiss criminal proceedings were launched against him.
Major sponsors Coca-Cola, McDonald's and Visa were among those calling on him to quit.
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