The opposition People Power Party is expected to elect its new floor leader on June 16. 

Kim Yong-tae, interim leader of the conservative party, told reporters on Friday at the Seoul National Cemetery that the party has formed a committee to prepare and manage the election of a new floor leader.

Kim added that the party will ensure that preparations for the election set for June 16 are carried out in accordance with the party’s constitution and regulations. 

The election committee, chaired by deputy floor leader Park Hyeung-soo, will hold its first meeting on Monday to finalize and announce the schedule of the election.

The election comes as PPP floor leader Kweon Seong-dong offered to resign on Thursday over the defeat of the party’s candidate in the 21st presidential election.