South Korea's former oceans and fisheries minister formally announced Sunday he will run for the chairmanship of the ruling Saenuri Party and called on all members to strive for unity.

Rep. Lee Ju-young, a five-term lawmaker from South Gyeongsang Province, said he will run for the top party post in the Aug. 9 national convention and vowed to help Saenuri overcome the shock of the April 13 polls. He also said he will lay a firm foundation for the party so it can win the next presidential race set for December 2017.

The conservative party secured just 122 seats up for grabs in the 300-seat National Assembly.

The ex-minister, who was also the party's chief policymaker and headed Youido Institute, Saenuri's think tank, is the second lawmaker to announce a bid for party chairman after Rep. Kim Yong-tae.

Political observers said that Lee is part of the pro-Park Geun-hye faction composed of lawmakers that are loyal to the president, while Kim is viewed as a non-Park member who has been critical about the chief executive on certain matters.

Lee said in a press conference that he will strive to get rid of all factionalism within the party, which has been cited for its defeat in the latest general elections.

"In order to win the presidential race, party members must move beyond factions and work together to bring about innovation to win over voters," he said.

He said if he is elected to lead the party he will make certain all qualified candidates can have a fair shot to win the Saenuri Party's presidential ticket next year. (Yonhap)