Seoul: Prime Minister Kim Min-seok is reportedly preparing to offer his resignation following this week's local elections as he gears up to run for the leadership of the ruling Democratic Party (DP), according to news reports on Monday. Kim plans to communicate his intention to step down to President Lee Jae Myung immediately after Wednesday's local elections, aiming to participate in the race for the party leader, which will be decided at the party's national convention in August.

According to Yonhap News Agency, Kim is expected to remain in his current role until a successor is ready to take over. This topic might be addressed during a weekly lunch meeting between Kim and President Lee on Monday. Additionally, Kim is set to host a dinner with Cabinet members on Tuesday, which some political analysts speculate could serve as a farewell gathering. However, Kim's office clarified that the meeting is to mark the first anniversary of President Lee's administration.

Speculation about Kim's potential resignation has been ongoing for months, with suggestions that he might try to lead the party, currently under Rep. Jung Chung-rae. Jung has faced criticism from pro-Lee party members for his hard-line approach, which some believe does not align with President Lee's vision, despite claims of unity from both leaders.

Media outlets have named possible successors for Kim, including Lee's chief of staff Kang Hoon-sik, presidential chief of staff for policy Kim Yong-bum, Justice Minister Jung Sung-ho, and Interior Minister Yun Ho-jung. Other contenders mentioned include Industry Minister Kim Jung-kwan and DP's chief policymaker Han Jeoung-ae.

Some political observers suggest that President Lee might conduct a partial Cabinet reshuffle or replace some aides once a new prime minister is appointed. However, a source from the ruling camp indicated that it is too early to discuss such changes. "The local elections are not over yet, and Prime Minister Kim is conducting his duties normally," the source stated. "It is premature to talk about the possibility of the prime minister resigning or who is going to succeed him."