The ruling People Power Party and the main opposition Democratic Party launched a consultative body to discuss shared goals for the people’s economic well-being. 

Ruling party policy chief Kim Sang-hoon and chief deputy floor leader Bae June-young attended a launch ceremony at the National Assembly on Monday along with the opposition’s policy chief, Jin Sung-joon, and its chief deputy floor leader, Park Sung-joon.

The rival parties reached a consensus on the need for legislation to benefit small and midsize businesses, reverse the low birth rate trend, and vitalize the semiconductor and artificial intelligence industries by extending state support.

The two sides agreed that both party leaders should negotiate a solution when a bill is stalled before a standing committee.

They also agreed to hold working-level consultations to expedite the review of bills with bipartisan support.

Han Dong-hoon and Lee Jae-myung met September 1 and agreed to form the consultative body.