Taiwan's ruling Kuomintang party will hold an extempore party congress, next Saturday at the earliest, in a bid to improve its souring prospects in the island's leadership election next January.

Though not mentioned in the press release following the party's central standing committee meeting Wednesday afternoon, replacing deputy legislative speaker Hung Hsiu-chu with KMT chairman Eric Chu Li-luan for the election nomination is the focus of the congress, according to local media reports.

Chu said during the meeting that his goal is to create a consensus and secure victory through party solidarity, adding that all committee members acknowledge the efforts Hung has made over the past three months.

Hung expressed her deep regret in a strongly worded press release after the meeting, saying she respects the committee's right to hold an extempore congress, but said a decision to replace her will negatively affect the party.

Hung was nominated on July 19 as the KMT candidate in the Taiwan leadership election and was set to face Tsai Ing-wen, chairwoman of the opposition Democratic Progressive Party and James Soong Chu-yu, chairman of the People First Party.

The KMT suffered a crushing defeat in local elections in 2014, and faces severe challenges in the 2016 elections.