Despite widespread rumblings that he was gearing up to run for the state Assembly, S.J. Jung said he does not intend to run for any office this year, leaving what Assemblywoman Grace Meng (D-Flushing) said is currently an open field in the race for her seat.

The Flushing businessman and president of the Young Korean American Service and Education Center ran on the Working Families Party line in November’s election to replace outgoing City Councilman John Liu, eventually losing to Republican Peter Koo in the general election.

“At this point I have no plan to run. If you ask me what’s the possibility, at this point I see zero possibility and I have not actually engaged in any kind of campaign,” he said.

In recent weeks, rumors have swirled about as to whether Jung would run and for which office, and three Flushing Democratic insiders said they believed Jung, a Korean American, could pull off a win against the Chinese-American Meng, especially if another Chinese American also ran against her.

But Jung put such speculation to bed Monday.

“I don’t have any plan to run for office this year, but I do know that people talk and that they continue to mention my name. I take it as an honor and an encouragement to continue to work for my community,” he said.

Jung said he has not been campaigning since his loss in last year’s election and has not started a campaign committee or raised funds for a new campaign, according to state Board of Elections filings. His Council campaign committee had about $26,000 in funds as of a January filing.

Meng said she has been fund-raising in recent months and currently has about $200,000 in her campaign coffers.

“I don’t know of anyone that’s running. I haven’t heard of anyone, but its only February and it’s good to be prepared in politics,” she said. “But what I’m trying to be focused on is just doing my work.”

Jung said one of the main reasons he does not plan to run is because he is busy with his work at the Young Korean American Service and Education Center, a Flushing-based nonprofit that assists and advocates on behalf of New York City’s Korean community.

Jung received 700 votes out of 17,225 ballots counted, or about 4.1 percent of the vote, in the Nov. 3, 2009, election for District 20’s Council seat, which represents Flushing.

Reach reporter Connor Adams Sheets by e-mail at csheets@cnglocal.com or by phone at 718-260-4538.