Political pundits said the move apparently came as Kim has hinted he may run in the presidential race slated for next year.

Saenuri's law stipulates a party leader must step down from his or her post 18 months before the presidential election. South Korea's next presidential election is slated for Dec. 20, 2017.

Party members have been eyeing Kim's candidacy amid on-going factional infighting that has hurt Saenuri's standing. Kim is usually classified as a member of the non-Park Geun-hye faction, although his real affiliation is ambiguous, with some even referring to him as pro-Park.

So far, six members confirmed their candidacy, with three of them being from the non-Park faction. Rep. Lee Jung-hyun is considered the only pro-Park candidate at present, although Rep.

Hong Moon-jong, another Park loyalist, may make a bid soon.

The non-Park faction has yet to push for a single candidate to compete with the pro-Park group.

The Minjoo Party of Korea, meanwhile, also plans to hold a convention on Aug. 27 to vote on a new leader.

So far, three candidates have vowed to join the race. The main opposition party plans to conduct a primary if there are four or more candidates for the top leadership position to limit the number to three.

Rep. Lee Jong-kul, a five-term lawmaker, said Wednesday morning that he will also join the race but withdrew after the party's interim leader Kim Chong-in suggested he reconsider his candidacy. (Yonhap)