Seoul: National Assembly Speaker Woo Won-shik on Monday urged the ruling and opposition parties to reach an agreement on the 2025 budget bill by next Tuesday, while postponing putting forward the downsized budget bill. “After much consideration, we have decided not to present the budget bill at today’s plenary session,” Woo said during a press briefing. “I sternly urge the two parties to pass the budget by Dec. 10, the final day of the regular session,” he added.

According to Yonhap News Agency, tensions had been expected as the main opposition Democratic Party pushed for a reduced budget, facing opposition from the ruling People Power Party. The delay in presenting the budget bill highlights the ongoing disagreements between the parties over fiscal policies. Speaker Woo’s call for a consensus underscores the urgency of resolving these differences to ensure the smooth passage of the budget. The outcome of these negotiations will be crucial in determining the financial priorities and allocations for the upcom
ing year.