The New Future Democratic Party (Korean: 새미래민주당, romanizedSaemiraeminjudang) is a South Korean political party formed by a splinter group from the Democratic Party led by former Prime Minister Lee Nak-yon. Originally New Future Party (Korean: 새로운미래, romanized: Saerounmirae, lit.'New Future'), the party was renamed on 7 September 2024.[1]

History

Logo of New Future Party

The party was founded on 4 February 2024. According to the party, Lee Nak-yon and Kim Jong-min will serve as party co-chairs.[2] There were speculations about a potential alliance with Lee Jun-seok's New Reform Party.[3] On 9 February it was announced that the party, along with New Reform Party, would merge together to create the Reform Party, with the new party being led by Lee Nak-yon and Lee Jun-seok.[4]

On 20 February, Lee Nak-yon and the New Future Party announced their withdrawal from the merger with the New Reform Party. Kim Jong-min, an assemblyman close to Lee, also left the party to rejoin the New Future Party.[5]

On 11 March, Hong Young-pyo, the member for Incheon Bupyong B in the National Assembly, officially joined the party.[6] An additional two members of the National Assembly; Oh Yeong-hwan and Sul Hoon joined the party on 17 March.[7][8][9]

Ideology

The party's manifesto said that it will "stand up for centrist reformism". It also said the party "opposes both market fundamentalism and populism".[10]

Election results

Election Leader Constituency Party list Seats Pos. Status
Votes % Seats +/- Votes % Seats +/- No. +/–
2024 Lee Nak-yon
Kim Jong-min
200,502 0.70 New
1 / 254
483,827 1.71 New
0 / 46
5th
1 / 300
5th Opposition

References

  1. ^ Part of the New Reform Party from 9 February to 20 February 2024


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