[Exclusive] Lee Nak-yeon, 'New Party Formation' D-Day Set for January 15 Next Year

Lee Nak-yeon Side "Preparing with January 15 Next Year as Target"
Planning a 'New Party' Centered on Honam and Capital Region Support Bases
Geum Tae-seop, Yang Hyang-ja, Lee Sang-min, etc... Envisioning a 'Big Tent'

Former Democratic Party leader Lee Nak-yeon has reportedly set a plan to establish a new party targeting January 15, three months before next year's general election. There is also talk of forming a 'third zone big tent' by continuously contacting prominent politicians from both ruling and opposition parties.

A key aide to Lee told Asia Economy on the 15th, "We are aiming to establish the party on January 15 next year." The date was chosen considering the legal resignation deadline for public officials running in the general election (January 11) and the start of the Lunar New Year holiday (February 9). The decision reflects the judgment that the timeline cannot be delayed any further.

Former Lee Nak-yeon, former leader of the Democratic Party of Korea [Image source=Yonhap News]

Lee's camp is planning a new party with a main support base in the 'Honam region,' considered a Democratic Party stronghold, and the 'capital area.' It appears they intend to attract former Democratic Party members who were either replaced or lost in the party primaries ahead of next year's general election. Lee has been maintaining communication with independent lawmaker Lee Sang-min, who left the Democratic Party, as well as lawmakers classified as 'non-mainstream' such as Seol Hoon and Yoon Young-chan, who belong to the 'Principles and Common Sense' group.

The possibility of Lee's new party expanding into a 'third zone big tent' is also increasing. In particular, it is reported that he is coordinating 'coalition intentions' with Yang Hyang-ja, leader of Korea's Hope, and Geum Tae-seop, head of the New Choice party preparation committee. Lee also stated on KBS Radio the previous day, "I found room to align intentions with former lawmaker Geum Tae-seop and lawmaker Yang Hyang-ja."

It is also known that Lee is pushing for a meeting with former People Power Party lawmaker Yoo Seung-min. If a meeting between 'centrist progressives' and 'centrist conservatives' leads to a new party, it is expected to create a significant impact ahead of the general election. There were also speculations about contact with former People Power Party leader Lee Jun-seok, but internal negative assessments have grown, leading to the cancellation of such plans.

Lee has been sharply criticizing the Democratic Party under Lee Jae-myung's leadership day after day. While criticizing the Yoon Suk-yeol administration's failures, he also points out that the Democratic Party is not a viable 'alternative,' emphasizing the justification for founding a new party. However, voices of opposition and concern have emerged within the Democratic Party. Pro-Lee Jae-myung faction lawmaker Kim Min-seok criticized Lee Nak-yeon as a 'Sakura' (a term used in politics to describe a turncoat), and lawmaker Yoon Gun-young, classified as pro-Moon Jae-in faction, expressed concern on MBC Radio the previous day, saying, "(Regarding the new party founding) I feel like I want to stop it by carrying a lunchbox around."