President Lee Jae Myung is set to hold talks with leaders from the ruling and opposition parties on Sunday over a luncheon at his official residence.

Woo Sang-ho, senior presidential secretary for political affairs, said on Thursday that ruling Democratic Party(DP) acting chief and floor leader Kim Byung-kee, main opposition People Power Party(PPP) interim chief Kim Yong-tae and floor leader Song Eon-seog are expected to attend.

The senior secretary said Lee intends to explain the outcome of his attendance at the Group of Seven(G7) summit in Canada, while holding a candid discussion with no issue deemed to be off limits.

The invitation was delivered to the rival parties on Tuesday by Presidential Chief of Staff Kang Hoon-sik, and later accepted by the leadership of both parties.

An official from the top office said while the presidential aides had initially suggested a meeting in early July, but Lee said the gathering should not be delayed any longer.

Talks, however, are unlikely to extend to a consultative body involving the government and the rival parties as the National Assembly has yet to hold a confirmation hearing for prime minister nominee Kim Min-seok and the administration has not formed a new Cabinet.