Kim Han-gil, a former co-leader of the main opposition party, said Thursday that he will join hands with the other former co-chairman, Ahn Cheol-soo, to create a new party.

Kim co-founded the New Politics Alliance for Democracy in 2014 with Rep. Ahn, who announced his departure last month. The party changed its name to the Minjoo Party of Korea last week.

"We have agreed that the goal of the new party is to put the livelihoods of the people first, narrow the wage gap and evenly improve the quality of the people's lives," Kim told reporters following a luncheon with Ahn. 

When asked who will head the party, Ahn and Kim said they have not decided on the issue yet.

The Ahn camp, which was scheduled to launch a preparation committee for the new party Friday, has been making efforts to bring in political heavyweights.

"This party is not a party solely for Ahn Cheol-soo," Ahn said, adding that the two will make efforts to find the talents for the next general elections in April.

Ahn announced his departure about a month ago following internal strife with incumbent Chairman Moon Jae-in.

Ahn had called for Moon's resignation and party reform following the NPAD's crushing defeat in the parliamentary by-elections in April 2015. He left the party when negotiations with Moon over a leadership change fell through.

A stream of similar desertions from the Minjoo Party are expected, with some assuming more lawmakers may follow suit by the end of January.

Ahn, the founder of the nation's largest anti-virus software firm Ahnlab Co., co-founded the NPAD after merging Kim's main opposition Democratic Party with his supporters. Ahn jointly shared the party's top post with Kim for four months. (Yonhap)