The South Korean is in unchartered territory as he has never before made it past the third round of a Grand Slam.
However, standing in his way is the favourite to win the competition in Federer.
But Chung insists that he will not go above and beyond in preparation for the clash, which takes place on Friday morning British time.
Instead he will spend Thursday relaxing to make sure he is fresh to challenge the world number two.
“First I have to really good recovery because I have to play semis in Grand Slam,” Chung said.
“I’m just trying to play the same as I have so far in the tournament.”
Chung knocked out former world No1 Novak Djokovic in the round of 16 before beating Tennys Sandgren in the quarter-final.
And the 21-year-old is hoping to have a similar feeling at the end of the Federer match as he did against Djokovic.
“I think I’m not tired because I win,” he added.
“When I win the match against top players I’m never tired.
“Just happy, no? Mentally happy, nothing tired.”
Chung also hopes to have the backing of his entire nation when he takes to the court against Federer.
“I think all the people is watching Australian Open now because we make history in Korea,” he said.