Acting President Han Duck-soo is likely to resign and declare his bid for the June 3 presidential election later this week, an official said Monday, according to Yonhap.

Han has been a favorite among conservatives to challenge Lee Jae-myung, the presidential candidate of the liberal Democratic Party, in the election triggered by the impeachment of former President Yoon Suk Yeol.

"(Han's) resignation from office and bid for the presidential election will be decided on any day from May 1 to 3," an official at Han's office told Yonhap News Agency.

As a public official, the acting president faces a May 4 deadline to resign in order to run for election. Given that the conservative People Power Party is scheduled to pick its presidential nominee Saturday, and the observance of an extended public holiday from Saturday through next Tuesday, announcing his presidential bid this Thursday or Friday could maximize public interest.

Before then, Han is expected to follow his public schedule, including a Cabinet meeting Tuesday and a reported meeting with U.S. Secretary of the Navy John Phelan on Wednesday.

Supporting the likelihood of a shot at the presidency, several of Han's aides have been said to be preparing to resign in order to help launch his campaign.

Son Young-taek, Han's chief of staff, submitted his resignation Monday.