Main opposition Democratic Party Chairman Lee Jae-myung has announced his resignation in an apparent move to seek a second term ahead of the party’s convention to elect a new leadership in August. 

Lee told reporters on Monday morning, after the party’s Supreme Council meeting at the National Assembly, that he had stepped down from his post as party chair.

He said he would deliberate on what path he and the DP should take amid the great crisis facing the people and the country, adding he will decide his next move soon. 

Asked if he will seek a second term, Lee said that if he had decided not to run in the leadership race, he would not have resigned. 

The DP is scheduled to hold a party convention on August 18 to elect a new leadership. The party's rules mandate that chair candidates must resign from party posts before registering to run in the race.