Prime Minister Kim Min-seok exits the polling booth after participating in early voting in Yeouido, Seoul, Friday. Yonhap

Prime Minister Kim Min-seok is preparing to offer his resignation after this week's local elections as he plans to run for the leadership of the ruling Democratic Party of Korea (DPK), news reports said Monday.

Kim plans to express his intention to resign to President Lee Jae Myung right after Wednesday's local elections to run in the race for the party leader that will be determined at the party's national convention in August, the Kyunghyang Shinmun daily and other media outlets reported.

But Kim is expected to remain in office until his successor becomes ready to take over, the reports said.

The issue could be discussed when Kim holds a weekly lunch meeting with Lee on Monday.