The ruling People Power Party is reviewing two scenarios to bring about "political stabilization," both involving the resignation of President Yoon Suk Yeol by end-April next year, reports said Tuesday.

People Power Party Chair Han Dong-hoon received a draft proposal from an intra-party task force launched Monday intending to achieve "political stabilization," that called for the president to step down in either March or April, according to Yonhap New Agency. The next presidential election, which is currently scheduled for March 2027, would then be held in either May or June 2025.

Han reportedly plans to discuss the proposal by the intra-party task force at the general meeting of ruling party lawmakers before confirming it. The ruling party plans to announce the final draft of the plan before the opposition-led National Assembly holds the second impeachment vote against Yoon on Saturday, Yonhap added.

The task force is focusing on drafting a plan for Yoon's early resignation, rather than a constitutional amendment that would change the term limit of the presidency from the current single five years to four years with a two-term limit through reelection, People Power Party Rep. Lee Yang-soo, who is heading the task force, told reporters in the morning.

The intra-party task force was launched Monday, in line with the ruling party leader's pledge on Sunday to achieve "an orderly and early resignation of (President Yoon) to minimize turmoil," from Yoon's surprise martial law decree on Dec. 3.

Han has also reportedly proposed the ruling party float its own version of the bill that mandates a special counsel probe into insurrection charges against Yoon, during a general meeting of ruling party lawmakers held Tuesday.