The chief of the ruling Saenuri Party could pay a visit to former President Lee Myung-bak early next year, a party official said Thursday, following a bipartisan agreement to investigate alleged irregularities in the former administration's overseas resource development projects.

The visit could come as early as New Year's Day as Saenuri Chairman Kim Moo-sung plans to offer his New Year's greetings to the former president affiliated with the ruling party, the official told Yonhap News Agency by phone.

"Nothing has been decided yet but isn't it natural to offer one's New Year's greetings to a former president out of courtesy?" the official said on condition of anonymity.

Kim, who was elected party chief in July, is reported to have discussed state affairs with Lee when the former president was in office from 2008-2013.

If the two meet, Kim is expected to seek Lee's understanding on Wednesday's bipartisan agreement to launch a parliamentary investigation into allegations the Lee administration spent tens of billions of dollars on various natural resources development projects overseas with few results.

The agreement was seen a compromise for beginning bipartisan discussions on incumbent President Park Geun-hye's push to reform the pension program for civil servants.

Public servants have expressed strong opposition to the government's plan to address its growing pension deficit through higher contributions and lower entitlements. (Yonhap)