Economy / South Korea
South Korea
January 2005 | Risk SummaryTop leaders from the ruling Uri Party and main opposition Grand National Party (GNP) have ended the weeks-long disruption of legislative activities after finally reaching agreement on several controversial issues. The two major parties agreed to endorse the budget bill for the 2005 fiscal year while promising to negotiate over the so-called four reform proposals, amid public anger at the stalling. The written agreement should prevent a further boycott of parliament, but with factions of each political party remaining poles apart on the contentious bills, future procedure in the Assembly will not be easy.
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