PARLIAMENTARY SESSION ENDS

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The July extra parliamentary session ended, after the ruling party-led National Assembly approved bills to contain soaring property prices and to facilitate the launch of an independent investigative unit focused on corruption involving high-ranking public officials. The ruling Democratic Party reiterated its determination to stabilize the real estate market. while the main opposition Party condemned the current political situation as a parliamentary dictatorship.

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As July's extra parliamentary session is over, the ruling Democratic Party is adding final touches to its real estate measures. The DP vowed to employ all possible, necessary means to stabilize the market for rental housing and contain surging property prices.

[Soundbite] KIM TAE-NYEON(DEMOCRATIC PARTY FLOOR LEADER) : "We will devise flexible measures to bring down deposits for rental homes, which are now set at four percent, in line with the current lower interest rates."

The ruling bloc also emphasized it has no difference with the Seoul city government over a proposal to ease height regulations on residential buildings to be reconstructed in the capital.

[Soundbite] REP. YOON HU-DUK(HEAD, RULING PARTY'S REAL ESTATE TASK FORCE) : "As part of its plan to increase housing supply, the government's proposal to ease height restrictions on residential buildings is consistent with the Seoul city government's reconstruction policy."

This is viewed as a move to appease local governments and lawmakers that oppose the deregulation. While denouncing the ruling party for promoting makeshift measures in an elective dictatorship, the main opposition United Future Party moved to focus on the livelihoods of the people. After the session ended, the UFP visited regions hit hard by recent heavy downpours and floods. It urged the government to designate them as special disaster zones.

[Soundbite] JOO HO-YOUNG(UNITED FUTURE PARTY FLOOR LEADER) : "This scale of flood damage calls for the designation of special disaster zones. I ask the Ministry of the Interior and Safety to review and make a quick decision on the designation."

The rival camps are also expected to reshape and reorganize themselves before the September regular parliamentary session. The Democratic party will convene a national convention, while the main opposition will concentrate on internal affairs, such as creating a new party name and policy platforms.