Ruling People Power Party(PPP) floor leader Kweon Seong-dong has expressed his intent to step down.

In a press conference on Thursday, Kweon said he plans to resign and asked the party to swiftly begin procedures to elect a new floor leader.

Remarking that he has considered stepping down for some time, the PPP juggernaut said it was only now, with the resolution of issues pertaining to party rules and the interim leadership transition, that he could do so.

Kweon said he humbly accepts criticism that his resignation should have come earlier, adding that his loyalty to the party will remain unchanged and vowing to fulfill his role as a lawmaker working for the conservative party's present and future.

He said he will also exert efforts to heal discord within the party and ensure the success of the Yoon Suk Yeol administration.