[THE INVESTOR] South Korean Prime Minister Hwang Kyo-ahn called again Aug. 25 for the prompt passage of an extra budge plan, stressing further delays would likely complicate efforts to create jobs and reinvigorate the economy.

Earlier this month, the ruling and opposition parties agreed to put an 11 trillion won (US$9.82 billion) extra budget bill to a vote on Aug. 22. But they failed to meet the time line amid differences over the selection of witnesses for parliamentary hearings on the restructuring of the troubled shipbuilding and shipping industries.

“The urgent budget bill, aimed at overcoming the difficulties from the restructuring (of major industries) and reviving people’s livelihoods, should quickly be passed for whatever reason you have,” he said during a meeting with top officials from the ruling Saenuri Party, the government and the presidential office Cheong Wa Dae.

Hwang, in addition, stressed the need to pass a series of bills that the government has been pursuing nurturing new industries and propping up growth. The bills include those aimed at reforming the labor market and establishing regulation-free zones.

The prime minister also used the three-way meeting to highlight the importance of close cooperation among the ruling party, government and presidential office, pointing out that they share a “common destiny.”

Commenting on the stalled extra budget bill, Saenuri leader Lee Jung-hyun emphasized that the ruling and opposition parties should pursue bipartisan cooperation on “bread and butter” issues that directly affect people’s livelihoods.

(theinvestor@heraldcorp.com)