World Boxing has endorsed the formation of a newly established breakaway Asian boxing confederation, aimed at representing and promoting boxing across the continent. (More Sports News)

The announcement comes after majority of the member federations (25 out of 36) of the existing Asian Boxing Confederation (ASBC) once again voted against leaving the suspended International Boxing Association (IBA) to join the World Boxing during an Extraordinary Congress in Bangkok on Saturday.

In the wake of this vote, ASBC President Pichai Chunhavajira and Secretary General Ali Salameh resigned from their positions.

Thailand's Chunhavajira soon revealed plans for creating a new Asian boxing governing body under the aegis of World Boxing.

World Boxing expressed its support on its official 'X' account, stating, "We welcome news that a group of National Federations in Asia will set-up a new Confederation aligned to World Boxing. We thank Mr. Pichai Chunhavajira of the Thailand Boxing Association for his strong leadership on this issue & his commitment to Olympic boxing #TimeForWorldBoxing."

The International Olympic Committee (IOC) had stripped the IBA of Olympic recognition over "financial transparency and governance" last year.

It has time and again reiterated its threat to leave boxing out of the 2028 Olympics if national federations continue to align themselves with the suspended IBA.

World Boxing, the breakaway body founded last year, has also been given time until early 2025 to do the needful in order to gain provisional recognition from IOC and ensure boxing's inclusion in the LA Games.

World Boxing president Boris van der Vorst hailed this development as a “historic moment” in the sport's evolution.

"I welcome the decision to establish the new Asian Confederation, which will operate as part of @RealWorldBoxing. This historic day marks a new era in the development of our sport in this region, which boasts a rich tradition in boxing," he wrote on X.

"I would like to express my deepest gratitude to the former ASBC President, Mr. Pichai Chunhavajira, for his support, and to the presidents of the Asian National Boxing Federations for sharing our common mission to preserve boxing within the Olympic Movement."

World Boxing currently has 55 members.