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Kim Yong-tae, interim leader of the People Power Party (right), and floor leader Kweon Seong-dong attend the inauguration ceremony of the 21st president at the National Assembly in Yeouido, Seoul, on June 4. / Source: National Assembly Press Photo Pool

Following Democratic Party candidate Lee Jae-myung’s decisive victory in the June 3 presidential election, South Korea’s conservative People Power Party (PPP) is turning its focus to a leadership reshuffle to rebuild its ranks.

According to political sources on June 4, if the party's general assembly reaches a consensus on electing a new leader through a party convention, preparations for the convention will begin immediately. Among the potential candidates, former PPP leader Han Dong-hoon—who ran in the 21st presidential primary—is being prominently mentioned. Around 20 pro-Han lawmakers are reportedly rallying behind him to spearhead party reforms.

The pro-Han faction blames the party’s defeat largely on its failure to distance itself from former President Yoon Suk-yeol.

Meanwhile, the pro-Yoon faction faces an urgent challenge. Should Han regain control of the party, Yoon’s allies would risk losing influence. Many observers believe that recent changes to the party constitution—banning factional activities—were designed to counter Han’s camp. The faction’s previous efforts to unify with Lee Jun-seok of the New Reform Party were also seen as a strategy to block Han’s rise to leadership.

Outside of factional lines, Representative Ahn Cheol-soo is also being discussed as a leadership candidate. Though he often differed from the party mainstream, his active role as co-chair of the election campaign earned him positive marks. However, in a recent media interview, Ahn said, “I haven’t seriously considered running for party leader yet.”

Former PPP presidential candidate Kim Moon-soo may also enter the leadership race, aiming to leverage the political momentum he built during the campaign.

There is precedent for post-election comebacks: In the 19th presidential election of May 2017, held after former President Park Geun-hye’s impeachment, Hong Joon-pyo—then the Liberty Korea Party candidate—lost to Moon Jae-in but was elected party leader at a convention in July. Other potential contenders include former campaign co-chairs Na Kyung-won and Yoon Sang-hyun. If the party moves forward with an August convention, the floor leader position is also likely to be reelected.

However, there is still a possibility the party could maintain its current emergency steering committee (ESC) structure instead of rushing into a convention. With tensions rising over the leadership race, some worry that an early contest could further erode public support. Under this scenario, the PPP would continue with the ESC and delay a leadership convention until year’s end.

Various scenarios are being floated. One option is to elect a new floor leader first and then form a new ESC. Another is to retain current floor leader Kweon Seong-dong and appoint a new ESC chair. Notably, maintaining the ESC is also seen as a way to check Han’s rise, buying time for the party’s mainstream factions to regroup.

But Kweon, who played a key role in the controversial “forced unification” debacle widely blamed for the election defeat, faces significant political baggage. While his term runs until December, most observers believe it will be difficult for him to remain in his post.

Meanwhile, the PPP leadership is scheduled to hold a general assembly on June 5, ahead of the National Assembly plenary session. The Democratic Party, in turn, plans to push through several bills, including a court reorganization act that would increase the number of Supreme Court justices.