The main opposition United Future Party filed an application with the National Election Commission on Monday, seeking to rename itself as part of a rebranding effort. The new name is “People’s Power.”

The name change came just six months after the Liberty Korea Party merged with minor conservative parties in February to form the United Future Party.

The new name won an endorsement at the party’s general meeting, held online earlier in the day. It was one of three names to be shortlisted after 16,940 suggestions came in via an open competition.

Kim Chong-in, interim leader of the party, has stressed the need for a comprehensive revamp of the conservative party after its defeat in the April 15 parliamentary elections.

“Our party’s existence will face a problem if we don’t seize a new opportunity through changes as we are in a crisis situation after the general elections,” Kim said Monday after meeting with party officials.

The new name echoes Kim’s wish to reestablish the party’s brand image, portraying it as a practical political group that works for the people and departing from words like “liberty” and “Korea,” which carry outdated and conservative connotations.

According to the party’s statement, the name implies three meanings: the power from the people, the power to exercise for the people and the power to bring people together.

The election watchdog must complete the registration process for the new name within seven days. It will look into the possibility that the name could cause confusion due to its similarity to that of the minor opposition People’s Party, led by Ahn Cheol-soo.

The party plans to officially adopt the name after a meeting of its national committee on Wednesday.

By Park Han-na (hnpark@heraldcorp.com)