"I was very frustrated by parochial, selfish attitudes, and reached a conclusion that it is meaningless to move forward with them", Ban said at an impromptu news conference as quoted by the Yonhap news service.
He said, without elaborating, that he tried to dedicate himself to resolving a national crisis and achieving unity but his "pure patriotism" and push for political reform were badly damaged by political slander and "fake news " that targeted him.
Ban Ki Moon, the former United Nations secretary-general, has abruptly abandoned his hopes of becoming South Korea's next president after a disastrous three-week campaign in which his popularity ratings were eaten away by a family scandal, unintentional comedy, and bumbling incompetence.
South Korea is now in the middle of a political crisis after President Park Geun-hye was embroiled in a corruption scandal and underwent an impeachment trial earlier this month.
A court is now deliberating about whether to accept Ms Park's impeachment or restore her to power. Millions took to the streets to protest against her leadership.
Albright: I'm 'ready to register as Muslim'
During the presidential campaign, he also floated the idea of registering American Muslims in a database. The new executive order would also prohibit the acceptance of Syrian refugees for at least 120 days.
If it is upheld, presidential elections will be held within two months rather than their proper date in December.
South Korea has been gripped by political chaos since Ms Park was unseated.
Before the corruption scandal revolving around Park broke in October, Ban's prospects for winning the presidency appeared strong and he was leading the polls, despite not having declared an intention to run.
A local magazine has reported that Ban received around US$230,000 from Park Yeon-cha, a local businessman, while serving as South Korea's foreign minister in the 2000s.
Ban's public profile was also affected when his brother Ban Ki-sang was indicted and a nephew was arrested in the United States in a bribery scheme involving a Vietnamese development project.
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