Lee Nak-yon, a former leader of the main opposition Democratic Party (DP), said Wednesday he will create a new political party of his own early next year ahead of April's general elections.
Lee, who served as prime minister during the previous administration, also said in a TV interview that the envisioned party will try to join forces with those not aligned with either the ruling People Power Party (PPP) or the DP with the goal of becoming the No. 1 party in the new National Assembly.
"We will try to give hope, albeit small, to people in despair," he said during the interview with SBS TV.
Lee said he will be able to give more details early next year.
In recent weeks, Lee has voiced strong criticism of DP leader Lee Jae-myung, his erstwhile rival in the DP's presidential primary, saying the party's democracy is under crisis due to the leader and his hardcore supporters.
Only four months ahead of the general elections, a number of influential figures in political circles have signaled the possibility of creating new political parties and challenging South Korea's deeply rooted politics.
Lee Jun-seok, a former leader of the ruling party, has also hinted at the possibility of creating a new party and said he could leave the PPP by Dec. 27.