Rival parties in last-minute talks over 2026 budget bill with legal deadline nearing

Rival political parties on Monday began last-minute negotiations to seek compromises to help the National Assembly pass next year's budget plan, a day before the legal deadline for approving the budget bill. The ruling Democratic Party of Korea (DPK) and the main opposition People Power Party (PPP) have been at loggerheads over key items in next year's 728 trillion-won budget ($498 billion) proposal, including funding for local gift certificate programs. Other contentious items include policy funds, the presidential office's special activity expenses, and education and other taxes. A major sticking point is the corporate tax rate. The DPK is pushing to reverse the cuts introduced under the former Yoon Suk Yeol government, while the PPP has expressed opposition to raising the taxes, citing the burden it would place on businesses. The two parties have also clashed over the PPP's push for a parliamentary probe into the prosecution's decision not to appeal a lower court ruling in a high-profile real estate development project in Seongnam, Gyeonggi Province. The case centers on allegations thWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times