Former ruling People Power Party(PPP) chair Lee Jun-seok has left the party and declared the creation of his new party on Wednesday. 

In a news conference held at a restaurant in Seoul’s Nowon District, Lee said he was leaving the PPP, noting that 12 years ago Wednesday he had entered politics. 

Lee said he was giving up all the political assets he had held while being in the ruling party, adding that he was making the choice to leave because he is looking to the future and not the past. 

In exiting the party, Lee also said the full moon always sets and the new moon always rises. 

The former party chair added that he submitted to the National Election Commission a report on preparations for his new party dubbed the “New Reform Party.”

Lee also denied a scenario of him getting back together with the ruling camp before next year’s general elections.