Ruling party takes new name, 'Saenuri'

SEOUL, Feb. 2 (UPI) -- South Korea's ruling Grand National Party Thursday announced its new name -- "Saenuri" -- which is Korean for New World.

The new name is a symbolic move designed to shed the conservative party's old and tarnished image prior to general elections in April, Yonhap news agency reported.

The name change, the first such in 15 years, will be officially confirmed in a national party meeting this month.

GNP was created in 1997 after a merger with a minor opposition party, the report said.

The name change comes after interim leader Park Geun-hye suggested the party needed to overhaul its image amid declining approval ratings, the report said.