On this day, 27 years ago, August 29, 1998 (July 8, 1998 in the lunar calendar), the two political parties of South Korea, the ruling and opposition parties announced the merger. On August 29, 1998, the National Assembly for New Politics of South Korea and the National New Party officially merged. South Korea's ruling New Politics National Conference and the opposition National New Party issued a merger declaration today stating that the merger between the two parties is to build political stability forces and save the national economy. After the merger of the two parties, the name of the party is still called the National Conference for New Politics.