Lee Hoi-chang, former leader of the Liberty Forward Party, announced on Sunday he was leaving the conservative minority party, expressing his frustration over last month’s election results.

The 76-year-old justice-turned-politician, however, did not say whether he would quit politics altogether, sparking speculation that he may be preparing to ally with a different conservative group ahead of the December presidential vote.

“I have led the party based on my conviction and belief that it is safeguarding the identity of the Republic of Korea and honesty and trust, and pursuing the values of the rule of law,” he said in a press release.

“I express my heartfelt thanks to party members.”

Lee founded the LFP in February 2008 after leaving the Grand National Party (now the ruling Saenuri Party) to run as an independent in the previous year’s presidential election.

Political observers assume that Lee could forge a political alliance with promising presidential hopefuls such as Rep. Chung Mong-joon.

The LFP, which currently has 14 seats at the National Assembly, gained just five seats including two proportional representation seats in the April 11 general elections.

(sshluck@heraldcorp.com)