Rival Parties Agree to Hold Hearing on Shipbuilding Restructuring

Write : 2016-07-22 09:07:38 Update : 2016-07-22 09:12:32

Rival Parties Agree to Hold Hearing on Shipbuilding Restructuring

South Korea's ruling and opposition parties have agreed, in principle, to hold a hearing on the ongoing corporate restructuring focused on the embattled shipbuilding and other marine-related industries at a parliamentary standing committees level.

Ruling Saenuri Party’s Vice Floor Leader Kim Do-eup told KBS Friday that the chief policymakers of the ruling party and the two major opposition parties tentatively agreed three days earlier to hold a hearing on the matter.

Kim said two parliamentary standing committees will question the main creditors of shipbuilders, including the Strategy and Finance Committee on the Export-Import Bank of Korea and the National Policy Committee on the Industrial Bank of Korea.

The Saenuri had been opposed to the hearing, but according to sources, the party changed its stance in order to draw the opposition parties’ cooperation on the parliamentary approval of the government’s supplementary budget.

The ruling bloc has demanded that the National Assembly hold a general meeting on August 12th that solely focuses on the extra budget plan, while the main opposition Minjoo Party of Korea(MPK) has claimed the Nuri childcare support program should also be discussed.

The minor opposition People’s Party has called for the Sewol ferry disaster to be added to the agenda, as well as the discussion to convene an extraordinary parliamentary session next month. 

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