Around 35 lawmakers disgruntled with loyalists of President Park Geun-hye occupying the party leadership announced their intention to leave the party Tuesday.
The group said the new party will be tentatively named the New Conservative Party for Reform.
The group said it will also immediately form their own parliament negotiation group, which requires at least 20 lawmakers.
|Two former Saenuri Party chiefs, Reps. Kim Moo-sung and Yoo Seong-min attend a meeting held to discuss a plan to launch a new political party on Friday. (Yonhap)|
The National Assembly currently has three negotiation groups -- Saenuri, the Democratic Party and the People's Party.
Saenuri has been suffering from a factional feud, with a group of dissenters expressing concerns over the party leadership.
Park was impeached by the National Assembly on Dec. 9 over allegations of corruption and an influence-peddling scandal involving her close friend. (Yonhap)