The Bareunmirae Party officially launched on Tuesday.
The People’s Party and Bareun Party held a joint meeting at the National Assembly and passed key motions on their merger, including the selection of key figures.
National Assembly Deputy Speaker Park Joo-sun and Bareun Party Chairman Yoo Seong-min were appointed as the co-chiefs of the 30-member party.
Later in the afternoon, the new party will declare its establishment during a convention.
Comprising 21 lawmakers from the People’s Party and nine from the Bareun Party, the new party has become the third largest in the National Assembly.