National Assembly Receives Report on 821 Trillion Won Budget for Next Year... Processes Around Ten Bills for Public Welfare

Real Estate Bills Including the Urban Maintenance Act Deferred for Further Deliberation

On the afternoon of September 3, the National Assembly will receive a report on the submission of the 2027 government budget bill and process around ten non-contentious bills that both parties have agreed upon. However, real estate-related bills have been deferred, as negotiations between the government and the Seoul Metropolitan Government are still ongoing.

On this day, the government is submitting next year's budget bill, amounting to approximately 821 trillion won, to the National Assembly after its approval at the cabinet meeting on September 1. Before the bills are processed at the plenary session, the Secretary General of the National Assembly will report the relevant details. The budget bill will be finalized after preliminary reviews by each standing committee, a comprehensive review by the Special Committee on Budget and Accounts, and deliberation and approval at the plenary session.

National Assembly plenary session hall. Photo by Yonhap News Agency

Real estate-related bills such as the Urban Maintenance Act and the Special Act on Yongsan Park are expected to face significant hurdles in the plenary session due to continued disagreements between the ruling and opposition parties.

Jeon Eunsu, Democratic Party spokesperson for the floor, stated, "Negotiations are ongoing between the Minister of Land, Infrastructure and Transport and the Mayor of Seoul, so we need to monitor the contents of those talks, and therefore the bills will not be presented today." Jeon added, "Above and beyond the passage of these bills, there is a greater need for concrete supply measures, and that is being prioritized over negotiations."

Among the main bills both parties are expected to process at the plenary session is the amendment to the Special Act on the Itaewon Tragedy, which would extend the activities of the special investigative committee for the truth-finding and prevention of recurrence of the October 29 Itaewon disaster by one year.

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