Hwang Woo-yea, a former five-term lawmaker, has been named the new interim leader of the ruling People Power Party. Yonhap

The ruling People Power Party (PPP) picked Hwang Woo-yea, Monday, as its interim leader, tasked with shoring up the demoralized party in the wake of its election defeat earlier this month.

Hwang, a former five-term lawmaker who now serves as a standing adviser to the PPP, will lead the emergency committee until a new leadership is elected in June. The previous committee led by Han Dong-hoon broke up following the April 10 general elections, from which the party managed to win only 108 seats in the 300-member National Assembly.

With his election, the party will form an emergency leadership panel that will make major party decisions, including finalizing the rules for electing the new leadership.

Rep. Yun Jae-ok, the PPP's floor leader and acting chairman, said Hwang is the right person to manage the party's national convention fairly as a former five-term lawmaker.

"We searched for candidates based on the following three criteria — someone who can manage the national convention fairly, someone well-versed in politics and someone who can be trusted and respected," he told reporters after a party meeting.

Hwang previously served as a chairman of the ruling Saenuri Party, a predecessor of the PPP, from 2012 to 2014. He also served as deputy prime minister and education minister for the 2013-17 Park Geun-hye administration.

Yun said the appointment process would be completed before Friday, when the party will select a new floor leader in a general meeting of lawmakers-elect.

Mainstream party members welcomed the appointment, although a few pointed out that the decision doesn't align with the party's reform efforts aimed at regaining public trust.

"Hwang has a huge amount of political experience, so I believe he could lead the party seamlessly," said former PPP floor leader Na Kyung-won, who won her fifth term in the elections.

Rep. Ahn Cheol-soo hailed the appointment of Hwang as a good move.

"The problem now is the selection of emergency committee members," he said. He reiterated that a party leader should be selected by 50 percent from party members and 50 percent of members of the public surveyed for their opinion. The current rule relies solely on a vote of party members.

However, some raised doubts about whether Hwang could lead the effort to reform the party.

"Hwang is a reasonable man, but I'm not sure if he could achieve innovation and party reform," Rep. Yoon Sang-hyun said.

The main opposition Democratic Party of Korea criticized the appointment, saying that the ruling party has no political will to innovate.

Rep. Lee Chul-gyu of the ruling People Power Party speaks during a press conference at the National Assembly in Seoul, March 20. Yonhap

Next, all eyes are on who will become the new floor leader on Friday. There have been calls within the party that the new floor leader should not be someone who falls in line under President Yoon Suk Yeol. However, Rep. Lee Chul-gyu, a Yoon loyalist, is apparently vying for the position.

Lee secured his third term by winning in the Donghae-Taebaek-Samcheok constituency of Gangwon Province in the general elections.

Rep. Kim Do-eup, a moderate figure who had been considered a strong candidate for the post, announced Sunday he would not run for floor leader. Kim secured his fourth term in the elections by winning in Busan's Buk-Gangseo-B constituency.

According to media reports, Lee has been meeting various party members, including both newly elected and experienced members, in what appears to be a campaign for the floor leader position.

The new floor leader will be tasked with forming an emergency committee and leading negotiations with opposition parties.