A two-term ruling legislator of the ruling Saenuri Party announced Wednesday he will join a contest to win the party's nomination for president.

Kim Tae-ho, who also served as the governor of South Gyeongsang Province, has become the latest conservative to throw his hat into the ring just one day after Park Geun-hye, the presumptive Saenuri nominee, announced her presidential bid.

The 50-year-old Kim was thrust into public attention in 2010 when President Lee Myung-bak nominated him as the new prime minister, but he stepped down over corruption allegations raised during the confirmation hearing.

He mounted a political comeback the following year by winning a parliamentary seat in the liberal stronghold of Kimhae, and was reelected in April's general elections.

Many doubt his presidential ambitions would affect former Saenuri leader Park's status as the unrivaled presidential contender on the conservative ticket, as the daughter of former dictator Park Chung-hee keeps her lead in the polls.

The presidential election will be held on Dec. 19. The president, whose five-year term ends early next year, is barred by constitution from running for re-election.