The disgraced former chair of the ruling People Power Party(PPP), Lee Jun-seok, is set to announce his departure from the party and the creation of a new party ahead of general elections in April.

The former PPP chair plans to hold a press conference to make the announcement at a restaurant in his political base in the Nowon District in Seoul on Wednesday, where he is expected to declare his defection from the PPP and intent to establish a new political party.

Lee plans to set up a preparation committee and complete the launch of a new party around the beginning or middle of next month.

PPP lawmaker Her Eu-na, Lee Ki-in, a member of the Gyeonggi Provincial Council, and Chun Ha-ram, who are regarded as close aides to Lee, are unlikely to join the press conference.

Former PPP Supreme Council member Kim Yong-tae, who was closely affiliated with Lee, expressed his stance against joining the new party.