The ruling Democratic Party and three minor opposition parties have produced a draft for an electoral reform bill that would lower the voting age and introduce a revised mixed-member proportional representation system.

The National Assembly Political Reform Committee held talks on Sunday and representatives from the four parties reached an agreement on the details of electoral reform.

The four parties, excluding the main opposition Liberty Korea Party, agreed to introduce a mixed-member proportional representation system without increasing the number of parliamentary seats from the current 300.

This proposed system will reduce the number of district parliamentary seats from 253 to 225, while increasing the number of proportional representation seats from 47 to 75.

In addition, the parties agreed to lower the voting age to 18 from the current age of 19. 

On Monday, the representatives will report the agreement to their respective parties, which will approve the draft after meeting with members.