The floor leaders of the rival parties agreed on Wednesday to pass key pending bills on the 2014 budget and spy agency reform next week in a move that effectively breaks the parliamentary deadlock.

Choi Kyoung-hwan, the floor leader of the ruling Saenuri Pary, and the main opposition Democratic Party's floor leader Jun Byung-hun made the agreement to pass the two bills in a general National Assembly session to be held on Dec. 30.

The agreement came after the parties' persistent conflict over the controversial issue of reforming the scandal-mired National Intelligence Service.

The reform of the NIS has been the opposition party's key agenda following allegations that the spy agency and other government bodies meddled in last year's presidential race in favor of then ruling party candidate and now president, Park Geun-hye.

The conflict that resulted in parliamentary standoff has raised concerns that parliament may fail to pass the budget bill for 2014 before the end of this year. (Yonhap News)