South Korean Ryu won men's singles gold in table tennis at the Athens 2004 Olympics, followed by team bronze at Beijing 2008 and silver at London 2012.

He became a member of the International Olympic Committee (IOC) in 2016, and has been President of the Korean Table Tennis Association since 2019.

Ryu has been a member of the ITTF Board of Directors since 2018 and an Executive Committee member since 2019.

The 2024 team edition is set to mark the first time South Korea has staged a World Table Tennis Championships, and Ryu is confident of delivering a spectacular event.

"The COVID-19 did not stop the Korean table tennis community’s aspiration to host the 2024 ITTF World Team Table Tennis Championships Finals on the centennial year of introduction of the sport in Korea," he said.

"We will ensure the success of the event with good planning and preparation and by closely communicating with the ITTF and its members in order to welcome the global table tennis family to Busan, Korea in the year 2024.

"The Korean table tennis community, the Korean Government and Busan Metropolitan city - all strongly support the event, and I am confident it will be an immense success."

Busan's Mayor Park joins Ryu as Co-President of the Organising Committee.

Dates for the Championships were also confirmed at the announcement, with the Finals set to run from February 16 to 25 2024.

A total of 40 teams are set to compete at the Finals in the men's and women's events, with quarter-finalists securing places at the Paris 2024 Olympics.

Busan had originally been due to stage the 2020 edition of the Team World Championships, but this was cancelled due to the COVID-19 pandemic.

The event is due to return from September 30 to October 9 this year in the Chinese city of Chengdu, with Halmstad in Sweden staging the last edition in 2018.

The ITTF alternates between its World Championships and World Team Championships each year.