In June this year, Shin (pictured middle left) was unveiled by AIBA President CK Wu (pictured middle right) one of the first three fighters to sign for the APB alongside super heavyweight Magomedrasul Medzhidov of Azerbaijan (pictured far right) and light welterweight Serik Sapiyev of Kazakhstan (pictured far left).

The revolutionary APB, which will officially launch at the end of next year, will see fighters guaranteed a stable wage for competing as well as receive additional bonuses, such as a signing bonus for joining.

But Shin, the reigning World Championship silver medallist, said he has donated his signing bonus to AIBA in order to help young boxers around the globe.

"This small token is to express my passion and love for boxing and be able to help for the future boxing development," said the 23-year-old.

"This idea strengthens me to get ready for Incheon Asian Games in two years and Rio Olympic Games in 2016.

"I really appreciate my parents and coaches who have supported this idea and I hope this donation will help those who need the support to become future boxing champions."

Jonghun Shin suffered a surprise defeat to Bulgaria’s Aleksandar Aleksandrov in the round of 16 at the London 2012 Olympics.

The donation comes after Shin, who was one of the gold medal favourites heading into the London 2012 Olympics, suffered a surprise defeat to Bulgaria's Aleksandar Aleksandrov in the round of 16 but he will be targeting redemption when the APB gets underway next year.

The APB itself, which is the brainchild of Wu, is looking to roll back decades of tradition where boxers turn professional after competing successfully at the Olympics.

It will allow fighters to box professionally in the APB but also retain their Olympic eligibility while offering a total of 56 places for the Rio 2016 Games.

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