Fraction which supported an impeachment of the president will leave South Korea’s ruling conservative party Saenuri, Kyodo reported quoting faction leadership.

They are to set up a new party, with their first meeting scheduled for Friday. According to the faction, the new party name will be the New Conservative Party for Reform, RIA Novosti reported.

South Korea’s ruling conservative party faced an imminent split over the impeachment of scandal-hit President Park Geun-hye, a development that would seriously undermine its presidential election chances. The president's impeachment was accepted on December 9 at parliamentary session, it would be impossible if a part of ruling party did not vote for impeachment.