Canadian-born Hong Kong actor and singer Edison Chen issued a heartfelt apology on Thursday and announced his retirement from the entertainment business following the major sex scandal he was involved in recently.

"I have failed as a role model. However I wish that this matter will teach everyone a lesson," said Chen, speaking for the first time since the scandal’s eruption. "I would like now to apologize to all the people for all the suffering that has been caused and the problems that have arisen from this," he told a room packed with reporters.

"I would like to apologize to all the ladies and to all their families for any harm or hurt that they have been feeling. I am sorry," he said.

A series of raunchy photos showing Chen, 27, in compromising positions with a number of Hong Kong’s leading ladies, including singer Gillian Chung and actress Cecilia Cheung, surfaced online over the past weeks causing major disturbance.

"I admit that most of the photos being circulated on the internet were taken by me but these photos were very private and have not been shown to people and were never intended to be shown to anyone," he said

"These photos were stolen from me illegally and distributed without my consent. There's no doubt whoever obtained these photos had been uploading them on the Internet with malicious and deliberate intent," Chen explained. The star had stored the footage on his computer, which he took in for repairs. Around 1300 images and videos were copied from his customized Apple MacBook laptop and released on the internet.  

Announcing his plans of stepping down from the Hong Kong entertainment industry to dedicate himself o charity and community work, Chen said, "I've decided to do this to give myself an opportunity to heal myself and to search my soul."

Hong Kong police reportedly arrested 10 people for allegedly selling DVD copies of the images.