The agreement comes a day ahead of a deadline set by National Assembly Speaker Kim Jin-pyo, who said he would put the budgets of both parties to a vote on Friday.
From left, Democratic Party floor leader Park Hong-keun and People Power Party floor leader Joo Ho-young exchanges the agreements made on next year's budget as well as other pending issues at the National Assembly in Yeouido, Thursday next to Finance Minister Choo Kyung-ho. [NEWS1]
People Power Party (PPP) floor leader Joo Ho-young said Thursday his party and the Democratic Party (DP) have reached a tentative agreement on next year’s budget.
The agreement comes a day ahead of a deadline set by National Assembly Speaker Kim Jin-pyo, who said he would put the budgets of both parties to a vote on Friday.
Next year's budget, which the government proposal sets at 640 trillion won ($497.7 billion), has been stuck on the floor of the National Assembly since the legal deadline came and went on Dec. 2.
![From left, Democratic Party floor leader Park Hong-keun and People Power Party floor leader Joo Ho-young exchanges the agreements made on next year's budget as well as other pending issues at the National Assembly in Yeouido, Thursday next to Finance Minister Choo Kyung-ho. [NEWS1]](https://img1.daumcdn.net/thumb/R658x0.q70/?fname=https://t1.daumcdn.net/news/202212/22/koreajoongangdaily/20221222174213094lyuy.jpg)