The ruling Democratic Party(DP), main opposition Liberty Korea Party(LKP) and the minor Bareunmirae Party(BP) have agreed to handle next year’s budget plan on Tuesday and defer a vote on controversial fast-tracked reform bills.

The floor leaders of the three parties reached the agreement during a two-hour meeting with National Assembly Speaker Moon Hee-sang on Monday.  

The LKP’s newly-elected floor leader, Shim Jae-cheol, told reporters after the meeting that the three sides agreed to convene a plenary session at 10 a.m. Tuesday to handle next year’s budget plan.  

Shim said an electoral reform bill on mixed-member proportional representation and legislation on prosecutorial reform that would establish an agency to investigate corruption by high-ranking public officials will not be put to a vote on Tuesday. 

He added that his party is dropping its threat to filibuster some 200 pieces of legislation, raising the likelihood that bills related to people's livelihoods will also be addressed during Tuesday’s plenary session.  

Shim said three revised bills regarding big data will be deliberated on by the National Assembly's Legislation and Judiciary Committee. 

Earlier, the DP and a coalition that included the BP and two other minor opposition parties were planning to convene a plenary session Monday afternoon and pass next year's budget plan and the fast-tracked reform bills without the LKP.

However, that plan has been scrapped following Monday's meeting between the DP, LKP and the BP's floor leaders.