National Pension Service Chairman Kim Sung-joo has offered to resign so that he can run in the general elections in April, according to news reports citing political sources Thursday.

Kim has reportedly tendered his resignation to President Moon Jae-in, who appointed him as head of the state-run pension fund two years ago. He has a year left in his three-year term as chairman.

Before assuming his current post in 2017, the former lawmaker served as a member of a National Assembly health and welfare committee from 2012 to 2016.

Kim, a native of Jeonju, North Jeolla Province, lost his parliamentary seat in the 2016 election. He is expected to compete with his hometown rival, former presidential candidate Rep. Chung Dong-young.

Though Kim has remained silent about his plans, he is said to be planning a book launch next week in Jeonju, which is widely seen as a chance to announce his election bid.

NPS is the world’s third-largest pension operator, managing more than 700 trillion won ($605.35 billion) worth of assets.

By Kim Young-won (wone0102@heraldcorp.com)