Rival parties have finally agreed on the schedule for the July extraordinary parliamentary session.

Floor Leader Kim Tae-nyeon of the ruling Democratic Party(DP) and his counterpart Joo Ho-young of the main opposition United Future Party(UFP) issued a statement on the agreement Tuesday after a meeting.

The two sides agreed to hold a ceremony on Thursday to mark the launch of the 21st National Assembly, 45 days after it kicked off. The first such ceremony was held in 1987.

President Moon Jae-in will deliver a speech at the event and the heads of the two parties will give speeches next Monday and Tuesday. 

The assembly will then hold a three-day interpellation session from next Wednesday and hold plenary sessions on July 30 and August 4 to handle pending bills.