[Asia Economy Reporter Byun Seon-jin] On the first day of the December extraordinary session of the National Assembly, the ruling and opposition parties will continue last-minute negotiations on next year's budget bill on the 10th. Although the ruling and opposition parties continued negotiations for the passage of next year's budget bill on the last day of the regular session on the 9th, no agreement was reached.
People Power Party floor leader Joo Ho-young and Democratic Party floor leader Park Hong-geun are scheduled to meet again on the same day to coordinate their positions regarding the budget bill.
The ruling and opposition parties reportedly failed to narrow their differences over key issues of the budget-related bills, including increases and decreases in major budget items for next year, as well as corporate tax, comprehensive real estate tax (Jongbu-se), and financial investment income tax (Geumtu-se). It is expected that the deadline for negotiations will ultimately be the 11th, the deadline for the passage of the motion to dismiss Minister of the Interior and Safety Lee Sang-min.
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