The 57-year-old President of the Korean Swimming Federation replaces Yu Kyung-sun, who resigned last month after he appeared before prosecutors because of his alleged role involving his company, Eugene Corporation, in a deal with Hi-Mart Corporation, a major appliance retailer in South Korea.

Lee, the vice-president of the Korean Olympic Committee (KOC), has now been appointed to take over.

As well as in swimming, he has held several senior posts within Korean sport, including as head of the Korean Pentathlon Federation from 2000 to 2004 and the Korean Canoe Federation from 2004 to 2009. 

In 2010, Lee also headed the Korean delegation to the Asian Games in Guangz­hou, where team finished second overall with a total of 232 medals, including 76 gold.

Lee currently serves as a director for the 2014 Incheon Asian Games Organising Committee.

"It's a great honour, but I have to shoulder great responsibilities.," Lee told the Korean Herald.

"Our aim [in London] is to finish within the top 10 in London, with more than 10 gold medals."

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