People Power Party Chair Han Dong-hoon speaks during an emergency intra-party meeting on foreign affairs and security matters at the National Assembly in Seoul on Wednesday. (Yonhap)

South Korea's ruling People Power Party on Wednesday expressed hope that US President-elect Donald Trump's second term would serve as an opportunity to forge a "deeper" alliance between Seoul and Washington.

"We anticipate the South Korea-US alliance, forged by blood (since the 1950-53 Korean War) will become deeper," the ruling party here said in a commentary released via senior spokesperson Rep. Kwak Kyu-taek.

"We sincerely congratulate Republican candidate Donald Trump's win (in the 2024 US election) in which he was elected as the 47th president of the United States. We plan to forge a new path for the future based on a stronger South Korea-US alliance," the commentary read.

The party pointed out the existing "serious" security threats in Northeast Asia, escalated by the deepening military ties between Pyongyang and Moscow, reflected in North Korea's recent decision to send troops to Russia.

"The security situation in the Northeast Asia region is more serious than ever due to risks including the latest signs of deepening ties between North Korea and Russia. (Which is why) we must thoroughly counter military threats from the North based on the best form of the Seoul-Washington alliance."

On the economic ties between the US and South Korea, the ruling party pledged to boost bilateral cooperation to achieve the goal of "mutual benefit" in areas such as high-tech sectors, which includes semiconductors and aerospace.

"As both countries have shared the systems of liberal democracy and market economy, as well as having built an important economic partnership through long-standing trade ties, we will together make efforts to achieve the goal of mutual benefit in new areas such as high-tech sectors," the commentary said. "We hope that a stronger economic cooperation between the two countries will contribute to the peace and prosperity in the Asia-Pacific region."

It added that the Yoon Suk Yeol administration is prepared to closely communicate with the Trump administration to "deepen the cooperation" between Seoul and Washington.

"The Yoon administration seeks to deepen the cooperation by closely communicating with the Trump administration whenever (necessary). We plan to swiftly arrange an opportunity for President Yoon and US President-elect Trump to communicate, for this purpose."