The Democratic Party of Korea faces an internal reckoning ahead of its August 2026 leadership convention, where incumbent chair Jung Chung-rae is widely expected to seek re-election but encounters growing resistance from party factions aligned with President Lee Jae-myung. Recent reporting highlights self-inflicted distractions tied to Jung’s confrontational style and policy priorities, including delays on special counsel legislation and a failed merger proposal with the Rebuilding Korea Party earlier this year. The June 3 local elections now serve as a critical test; underperformance would strengthen calls for an alternative candidate, such as Prime Minister Kim Min-seok, to contest the chairmanship. Traders view these structural pressures and scheduled party procedures as the dominant drivers elevating the likelihood that Jung will not retain the post through the full year.