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Time now for the last installment of our four part series on Korea's outlook for 2015. Today we look into the arena of domestic politics. What is in store for the nation's presidential office, the parliament, and main political parties this year? For more, we are now joined by our Park Ji-won. Hello, Jiwon. Hi, guys. This year will be full of changes and challenges for politicians on both sides of the aisle. But there's one very noticeable absence--there will be no national elections in 2015. The Park Geun-hye administration, which is about to enter the third year of its five-year-term,... is hoping to turn the focus entirely on the policy goals and reforms it has envisioned since inauguration day nearly two years ago. But before we get into that,... let's check out the biggest political events on the slate over the next 12 months. The first major political event of the year will be on February 8th. That's when the main opposition New Politics Alliance for Democracy... will hold a convention to select a new party leader and supreme council members. Up until last July,.. the opposition party was led by two co-leaders,... Kim Han-gil and former presidential candidate Ahn Cheol-soo. However the party faltered in July's by-elections,... and has been led by interim leader Moon Hee-sang ever since. Former presidential candidate Moon Jae-in and Park Jie-won, a close aide to former president Kim Dae-jung,... will go head-to-head for chairmanship of the party in February. On April 29th,... by-elections will be held for the three parliamentary seats that turned vacant when the minor opposition Unified Progressive Party was disbanded in December. These are three electoral districts in which traditionally progressive parties have been successful in the past. If the ruling party loses all three this time around though, it could be seen as a referendum on the incumbent administration. In May,... both the ruling and opposition parties will elect their new floor leaders. For the ruling Saenuri Party,... an internal strife between supporters of President Park and those that don't stand with her has widened. Whoever replaces current floor leader Lee Wan-koo,... who's in the Park Geun-hye camp,... will have a big influence on the relationship between the party and the presidential office. Later on in the summer, the minor progressive Justice Party,... will elect its new leader. So no national elections in 2015. But clearly a lot of elections within the political parties. How is that expected to shape the political landscape? The most-watched of the party elections this year will be when the new floor leaders are picked in May. President Park Geun-hye wants to push through her reform plans this year, and that will require cooperation from the National Assembly. "The presidential office can push through its agenda at parliament so long as the floor leaders cooperate. For the president, the floor leader is more important than the party leader because the floor leader leads legislative duties. If the ruling party's new floor leader comes from outside President Park's support base, it will be a tough year for the presidential office." The administration is obviously under pressure to produce some tangible results this year. What will the focus be on? The government will forge ahead with reforms aimed at a more flexible labor market, at state agencies,... and at the national pension system. These are issues that are controversial,... so it will require a cautious approach to minimize backlash. And as you can see from the decline in President Park's approval ratings,... from nearly 65 percent at one point last year... to below 40 percent at its lowest,... the public is paying close attention to what the presidential office is doing and will continue to do so in the new year. We'll also be paying close attention.... and I'm sure you'll keep us updated throughout the year. Thank you, Jiwon, for your report.