The Kla Party and the Chart Pattana Party will hold a press conference on Friday to announce what could be a merger between the two political parties.
Yaowapa Burapolchai, Chart Pattana spokeswoman, earlier confirmed that party chair Suwat Liptapanlop and Kla leader Korn Chatikavanij are scheduled to appear together at a press conference to announce some "political news" at Mr Suwat's residence in Bangkok's Dusit district.
Kla spokesman Sanyakorn Singweeratham on Thursday also confirmed the plan to hold a press briefing.
According to a political source, the two parties will announce their merger, a decision made by both parties after holding talks for some time.
Both parties believe they could capitalise on each other's strengths.
Chart Pattana's strength lies in its status as a long-established political party with a stronghold in Nakhon Ratchasima while Kla, which means "brave" in Thai, is a newcomer in politics looking to garner support from young voters.
Kla was first registered as a political party with the Election Commission after the general election in 2019. Mr Korn is a seasoned politician with economic expertise, who served as finance minister from Dec 20, 2008 – Aug 9, 2011, under the Abhisit Vejjajiva administration.
After the merger, the new party is expected to implement policies to urgently tackle economic woes.
Mr Korn ran for the Democrat Party leadership but lost to Jurin Laksanawisit, who is now commerce minister. After that, Mr Korn quit the Democrats to form the Kla Party in February 2020.