Both the ruling party and the main opposition party are embroiled in leadership disputes that could lead to party splits.  

Reuter 

SEOUL-South Korea’s main opposition party, locked in intense factional strife, was on the verge of a split Monday with its leader threatening to quit and form a new political group.  

The battle in the Democratic Party coincided with a worsening factional squabble within the ruling Democratic Liberal Party, whose conservative chairman has been under pressure to quit to pave the way for a major party reform.  

Democratic Liberal Party Chairman Kim Jong Pil hinted to reporters Sunday he might try to form a new party.  

“If I ask 1 million supporters of mine across the country to chip in 10,000 won (Â¥1,300) each to organize a new party, they will respond favorably,” he said.  

The chairman of the opposition Democratic Party, Lee Ki Taek, might quit the party this week and begin preparations to create a new party, an aide told reporters Monday.  

Lee demanded the Democratic Party hold a national convention next month to introduce a system that will strengthen its grip on the party. But members of a major faction, most of them loyal to former opposition leader Kim Dae Jung, have resisted the move.  

Kim Dae Jung still has many followers in the Democratic Party although he retired from politics in 1992 when he failed in his fourth bid to become national president.  

“Chairman Lee thinks negotiations about the national convention are now over and is preparing to make a final decision,” the aide said.  

“He will probably publicly announce his resignation as party chairman and departure the party around from Wednesday and make preparations to set up a new party,” the aide said.  

Lee gained the current leadership by a narrow margin at a national convention in 1993 but has failed to control a party whose main policies are decided by a nine-man Supreme Council.  

Earlier this month, Lee challenged the authority of Kim Dae Jung by urging him to sever ties to the Democratic Party, which outraged Kim’s followers.  

News reports have said President Kim Young Sam, who heads the faction-ridden Democratic Liberal Party, asked Kim Jong Pil to retire to a back seat when they met secretly last week.  

Kim Jong Pil has been under pressure from reformists o give up the No. 2 post in he parties to pave the way for an ajar party reform.