New Future Democratic Party 새미래민주당
Leader	Jun Byung-hun
Chair of the Policy Planning Committee	Jang Duck-chun
Founder	Lee Nak-yon
Founded	4 February 2024[a]
Split from	Democratic Party of Korea
Ideology	Centrist reformism
Colours	Turquoise
National Assembly	0 / 300
Metropolitan Mayors and Governors	0 / 17
Municipal Mayors	0 / 226
Provincial and Metropolitan Councillors	2 / 872
Municipal Councillors	9 / 2,988
Website
www.saeminjoo.com/main.do
Politics of South Korea Political parties Elections

The New Future Democratic Party (Korean: 새미래민주당, romanized: Saemiraeminjudang) is a South Korean political party formed by a splinter group from the Democratic Party led by former Prime Minister Lee Nak-yon. Originally New Future Party (Korean: 새로운미래, romanized: Saerounmirae, lit. 'New Future'), the party was renamed on 7 September 2024.^[1]

The party was founded on 4 February 2024. According to the party, Lee Nak-yon and Kim Jong-min will serve as party co-chairs.^[2] There were speculations about a potential alliance with Lee Jun-seok's New Reform Party.^[3] On 9 February it was announced that the party, along with New Reform Party, would merge together to create the Reform Party, with the new party being led by Lee Nak-yon and Lee Jun-seok.^[4]

On 20 February, Lee Nak-yon and the New Future Party announced their withdrawal from the merger with the New Reform Party. Kim Jong-min, an assemblyman close to Lee, also left the party to rejoin the New Future Party.^[5]

On 11 March, Hong Young-pyo, the member for Incheon Bupyong B in the National Assembly, officially joined the party.^[6] An additional two members of the National Assembly; Oh Yeong-hwan and Sul Hoon joined the party on 17 March.^[7][8][9]

The party's manifesto said that it will "stand up for centrist reformism". It also said the party "opposes both market fundamentalism and populism".^[10]

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