The Scottish football champions Celtic FC have withdrawn from their planned summer trip to South Korea, citing the local promoter's failure to meet financial commitments.

Celtic made the announcement on their website Tuesday. Featuring South Korean forward Oh Hyeon-gyu, Celtic had been scheduled to play the Premier League side Wolverhampton Wanderers, which employ another South Korean international, Hwang Hee-chan, later this month.

However, Wolves first pulled out of the summer tour last Thursday, also putting the blame on the promoter, Stadium X/USG.

The Italian club AS Roma were also to join the tour to play Wolves and the K League 1 team Incheon United here, but the promoter announced last Friday that AS Roma would also not make the trip.

Stadium X/USG had tried to salvage at least one match out of the mess, between Celtic and Incheon, before the Scottish side pulled out.

"Numerous financial and logistical operations were not met by the tour promoter, and after weeks of delays, the Club has taken the difficult decision to terminate the contract and pull out of the tour," Celtic announced in their statement. "The Club and the players were excited about visiting South Korea and giving our fans the opportunity to see the team, but unfortunately, due to factors entirely outwith our control, we have been left with no other option than to withdraw from the match."

Celtic will still be in Asia this month, with matches against Yokohama F. Marinos and Gamba Osaka in Japan.

In late May, a proposed two-match exhibition series in South Korea between the Italian champions Napoli and the Spanish club RCD Mallorca was canceled due to scheduling conflicts with the K League and financial issues.

Separately, treble winners Manchester City and Spanish club Atletico Madrid are scheduled to square off in Seoul on July 30. (Yonhap)