SEOUL - Ahead of the forthcoming April general elections, four political factions, including those led by figures who have departed from both the ruling People Power Party (PPP) and the main opposition Democratic Party (DP), have agreed to consolidate into a new entity.
According to Yonhap News Agency, the newly formed Reform Party will be co-led by former Prime Minister and DP leader Lee Nak-yon, along with former PPP leader Lee Jun-seok. Lee Nak-yon will also head the party's election preparation committee. The amalgamation is seen as a significant move in South Korean politics, with speculation rife on whether these parties would unite under a single banner for the parliamentary elections now only two months away. An official ceremony to celebrate the merger is scheduled following the Lunar New Year holiday.