Park Young-sun, who is serving as both the floor leader of the main opposition New Politics Alliance for Democracy and the interim chief of its emergency committee, has been tasked with rebuilding and reforming the party.
The committee will carry out a set of reforms until a new leadership is selected early next year.
"Our party will select members for the emergency committee from both inside and out of the party. The public can also make recommendations through Twitter, Facebook or our party's website."
The committee will function as the main opposition's executive branch until a party convention next year, sometime before March.
There, officials will pick the party’s new chairman, secretary-general and other senior executives.
In her new role, Park, a three-term lawmaker, is faced with the arduous task of finding a way to unify different factions within the party and forging a new path.
"The future of the New Politics Alliance for Democracy depends on how well we extricate ourselves from old customs and old politics."
The pro-Roh Moo-hyun arm once held the lion's share of power, but was weakened following the defeat of former presidential hopeful Moon Jae-in, a key pro-Roh figure in the 2012 presidential election.
Pundits say that the pro-Roh faction is now likely to make a comeback.
"The main opposition party has been in a state of turmoil since its defeat in last week's parliamentary by-elections. The party won just 4 of the 15 parliamentary seats up for grabs, prompting party co-leaders Kim Han-gil and Ahn Cheol-soo to step down to take responsibility.
Ji Myung-kil, Arirang News."