Seoul Mayor Oh Se-hoon has announced that he will not run for president in the upcoming election.

Speaking at a press conference at the People Power Party headquarters on Saturday, Oh said that while having a drive is an important quality for a politician, having the courage to stop is just as important.

Oh, who had been seen as one of the leading presidential contenders from his party, said he will instead support the candidate who shares his vision and will do his part to win the election. 

He added that the People Power Party will stand a chance only when it moves beyond simply opposing top Democratic Party contender Lee Jae-myung and focuses on improving the lives of vulnerable people.