The government, the presidential office and the ruling party held an emergency meeting on Monday and decided to reject a special counsel probe into allegations surrounding First Lady Kim Keon-hee.

An official from the ruling bloc said that during the closed meeting at the official residence of Prime Minister Han Duck-soo, all sides reached a consensus of the rejection of calls for an investigation from the opposition as well as a conditions-based probe after the April general elections.

The meeting was reportedly attended by PPP acting chair and floor leader Yun Jae-ok, the prime minister and presidential chief of staff Kim Dae-ki.

The DP has been calling for an investigation into the so-called "Five Billion Won Club" linked to the Daejang-dong development scandal as well as alleged stock manipulation by the first lady.

The PPP on Monday criticized the opposition-backed special prosecution bills on the two cases as a political and malicious election strategy.

The DP plans to pass the bills in a plenary parliamentary session on Thursday.