The National Assembly Speaker and the floor leaders of Korea's three main political parties met this morning to discuss pending issues.
One key issue on the table for discussion is the controversial special activity funds handed out to lawmakers each month.
For more, we connect to our political correspondent Kim Min-ji on the line.
Min-ji, I understand, rival parties have made a big agreement?
Yes, Ji-yoon.
South Korea's three main parties have agreed to do away with the so-called special activity funds that are handed out to lawmakers every month on top of their salaries.
Initially, the two biggest parties had agreed to use the funds only in cases where they can turn in receipts or related documents,... but decided to join minor parties to scrap the controversial funds all together.
There has been controversy over the special activity funds -- as some ranking officials receive tens of thousands of U.S. dollars per month,... but they haven't had to report how the money is spent.
This year, the budget for special activity funds is reported to be set at some 6 billion won, which is roughly 5 million U.S. dollars.
Rival parties said they will be at the forefront of doing away with the special activity funds... and that they will also come up with measures so that organizations that receive the funding do so in a more transparent way.
They agreed that this will help eradicate an unjust system that was embedded in Korean society.
Also at the meeting today, the National Assembly Speaker urged the parties to work towards passing bills related to people's livelihoods and reform,... saying this is the only way the National Assembly will be able to regain the trust of the people.
The National Assembly is set to kick off the August session this Thursday.
Back to you, Ji-yoon.
