The ruling People Power Party(PPP) will sit out Thursday’s vote on a pair of opposition-backed bills to set up special counsel probes into the Daejang-dong development scandal and alleged stock manipulation by First Lady Kim Keon-hee.

Following a general meeting of party representatives earlier in the day, PPP acting chief and floor leader Yun Jae-ok said he plans to recommend that President Yoon Suk Yeol swiftly and firmly veto the bills.

During the meeting, the acting chief accused the main opposition Democratic Party(DP) of abusing its majority in parliament in an attempt to pass the pair of bills aimed at manipulating public sentiment ahead of April’s general elections.

The DP, for its part, will seek to revise the bills to exclude the ruling party from the special counsel recommendation for the probe against the first lady even if the president were to leave the party upon the bill's passage.

The DP also plans to unilaterally pass a version of a special law on last year's Itaewon crowd crush put forth by parliamentary speaker Kim Jin-pyo at Thursday's plenary session should rival parties fail to strike a deal.

The speaker has proposed taking out a clause on a special counsel investigation into the disaster and deferring the bill's enactment until after April's elections.