A group of lawmakers are set to submit their resignation from the ruling Saenuri Party on Tuesday to establish a new conservative party.

Around 35 dissident legislators vowed last week to leave the party amid a factional feud with loyalists to President Park Geun-hye.

They will hold their second meeting Monday to discuss their plan to create the new party, tentatively named the New Conservative Party for Reform around Jan. 20.

Immediately after their departure, they will establish a parliamentary negotiation group, which requires at least 20 lawmakers.

Saenuri has been on the verge of splitting into two parties in the wake of the impeachment of President Park Geun-hye, which was passed at the parliament earlier this month over a corruption and influence-peddling scandal.

The mainstream faction loyal to Park rejected the anti-Park members' demand to name their leader as the party's interim head.  (Yonhap)