In 1988, party member Roh Tae-woo introduced a wide range of political reforms including direct presidential elections and a new constitution.

[20] Three months later, in 1998, with the election of Kim Dae-jung of the National Congress for New Politics as president, the conservative party's governing role came to an end, and it began its first ever period in opposition, which would last ten years.

The party was defeated in the parliamentary election in 2004 following the attempted impeachment of President Roh Moo-hyun, gaining only 121 seats out of 299.

[22] On 19 December 2007, the GNP's candidate, former Seoul mayor Lee Myung-bak won the presidential election,[23] ending the party's ten-year period in opposition.

In the April 2008 general election, the GNP secured a majority of 153 seats out of 299 and gained power in the administration and the parliament as well as most local governments, despite low voter turnout.

[24] One of the main bases of popular support of the party originates from the conservative, traditionalist elite and the rural population, except for farmers.

[29][30] The party's leader and South Korean President Park Geun-hye was impeached and convicted for her role in a corruption scandal.

It favors maintaining strong cooperation with the United States and Japan, and also believes that each Korean first level province needs to have a sustainable economy.

[38] In spring 2012, several Saenuri representatives took part in the Save My Friend protests, organized to oppose China's policy of repatriating North Korean defectors, and expressed their solidarity with Park Sun-young's hunger strike.

[39] The party has records of secretly hiring and paying university students to generate online replies favorable to the GNP.

[48] Certain members of the Liberty Korea Party have faced criticism for expressing anti-refugee,[49] homophobic views[50][51] and advocacy of authoritarian rules of the October Restoration.