New Reform Party (South Korea)

The New Reform Party is a South Korean political party jointly led by Lee Jun-seok, the former leader of the People Power Party (PPP). While initially founded by Lee Jun-seok as a conservative party after his split from the PPP, it has subsequently merged with various parties and factions led by politicians formerly affiliated with the Democratic Party of Korea (DPK) and Justice Party.

History
The founding congress of the New Reform Party was held on 20 January 2024. At the founding congress, the intention was emphasized to create a "third force", which would include the New Reform Party, to oppose the Democratic Party and the PPP. The new party expressed its readiness to create coalitions. The party is led by former People Power Party leader Lee Jun-seok and the conservative Kim Yong-nam is the party's policy committee chief.

On 24 January 2024, Yang Hyang-ja's Hope of Korea merged into the New Reform Party ahead of the April 10 parliamentary election. On February 9, it was announced that the party, along with New Future Party led by Lee Nak-yon, would merge to create the New Reform Party, with the new party being led by Lee Jun-seok and Lee Nak-yon.

On 20 February 2024, Lee Nak-yon and his 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 Lee's New Future Party.

Ideology
Initially, the New Reform Party mainly consisted of moderate conservatives centred around Lee Jun-seok, joined by centrists formerly affiliated with the Bareunmirae Party. Centre-left members of the Justice Party who refused an election alliance with the Green Party also left the party and joined the election alliance. This includes former MP Ryu Ho-jeong. However, after consecutive mergers with other parties and factions, it has morphed into a big tent party composed of members from different backgrounds.

Because its various factions were merged to form a centrist block ahead of the 2024 South Korean parliamentary elections, party members remain divided along ideological lines.

The party claims to be against authoritarianism and statism and seeks to protect liberty.