Cho Kuk, leader of the minor Rebuilding Korea Party, said Thursday he would step down as party leader after suffering defeat in a parliamentary by-election held alongside the June 3 local elections.

Cho Kuk, chair of the Rebuilding Korea Party, was projected to narrowly win a National Assembly seat in Pyeongtaek B, edging out rivals from both major parties

Cho Kuk, leader of the Rebuilding Korea Party (RKP), failed in his bid to return to parliament in the by-election held alongside Wednesday's local...