▲ People Power Party floor leader Kweon Seong-dong (L), National Assembly Speaker Kim Jin-pyo (C) and Democratic Party floor leader Park Hong-keun pose at the National Assembly on July 18, 2022, after reaching an agreement on forming a special committee on livelihood issues. (Pool photo) (Yonhap)

parties-formation negotiations

Parties agree to wrap up talks on parliamentary committee formations

SEOUL, July 18 (Yonhap) -- The ruling and main opposition parties agreed Monday to form a special committee on livelihood issues and wrap up ongoing negotiations on committee formations to kick-start the National Assembly that has been idling for more than a month and a half.

Earlier this month, the rival parties voted to elect Rep. Kim Jin-pyo of the Democratic Party (DP) as new National Assembly speaker, but they have failed to narrow differences on how to share parliamentary committee chairmanships.

In a meeting chaired by Kim, the floor leaders of the People Power Party (PPP) and the DP agreed to hold a plenary meeting Wednesday to pass a resolution on forming a special committee tasked with handling livelihood issues.

Economic and livelihood issues are one area the rival parties have agreed on the need to tackle swiftly as the country faces growing inflationary pressure and global supply chain disruptions.

The 13-member committee will be chaired by the PPP and review agendas, such as reforming property market regulations and expanding fuel tax cuts. It will run until Oct. 31.

In addition to forming the special committee, the PPP and the DP agreed to wrap up talks on parliamentary committee formations by Thursday.

The parties had earlier agreed to complete talks on the issue by Sunday but failed to narrow their gap on forming key committees and naming committee chairs.

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