Independent lawmaker Ahn Cheol-soo is expected to announce his plan to form his own political party at a press conference later this week and field candidates for local elections next year.

This could reshape the political l andscape of the nation, which is currently dominated by the ruling Saenuri Party and the main opposition Democratic Party. The latter has suffered a series of election losses over the past 18 months.

Ahn, a former presidential candidate, was elected to the National Assembly in a by-election in April. He has been popular among young, liberal voters.