Talks between rival political parties fell through after just 30 minutes as they failed to narrow differences over the national pension reform.

Following Monday's meeting of the consultative body on state affairs, ruling People Power Party(PPP) floor leader Kweon Seong-dong said talks ended as there was no result from the consultation.

PPP chief deputy floor leader Park Hyeung-soo said the main opposition Democratic Party(DP), which previously pledged to unify the party position to accept the 43-percent in income replacement, has now refused to do so.

The parties, meanwhile, had reportedly made progress concerning the extra budget, with the deputy floor leader saying the parties agreed to have their policy chiefs launch a working-level consultation with the government.

According to the ruling party, the bipartisan talks, however, were cut short after the main opposition refused to continue discussion on the extra budget, having sent the pension reform issue back to square one.