South Korea's ruling party on Wednesday faced an imminent split over the impeachment of scandal-hit President Park Geun-hye, a development that would seriously undermine its presidential election chances.

More than 30 lawmakers of the Saenuri Party, who have been at odds with Park, have vowed to leave, arguing the party's current leadership refuses to embrace reforms despite the corruption scandal and impeachment crisis.

"We've reached a conclusion that conservatives' reform through the Saenuri Party is impossible", Yoo Seung-min, an eminent lawmaker among the dissenters told journalists.