RIVAL PARTIES HOLD OFFICIAL MEETING

[Anchor Lead]

On Wednesday, new chairman of the main opposition Democratic Party, Lee Jae-myung held an official meeting with the acting leader of the ruling People Power Party for the first time since his election. While agreeing to place top priority on improving the livelihoods of the people, they showed wide differences on other key issues, based on their political ideologies and stances.

[Pkg]

The newly elected Democratic Party Chairman held an official meeting with his ruling bloc counterpart. As alumni of the department of law at Chung-Ang University, Lee Jae-myung and Kweon Seong-dong reportedly used to study and prepare together for the bar exam. Both focused on the economy and improving the livelihoods of the people at the meeting.

[Soundbite] Kweon Seong-dong(PPP Acting Chief and Floor Leader) : "The ruling and opposition camps should work together to resolve issues related to people's livelihoods Both sides presented similar campaign promises during the presidential election."

[Soundbite] Lee Jae-myung(DP Leader) : "We can form a joint body and seek to put common campaign pledges into action."

However, they showed clear differences on other pending issues. As Kweon raised the issue of lowering the comprehensive real estate tax.

[Soundbite] Kweon Seong-dong(PPP Acting Chief and Floor Leader) : "You promised to lower the comprehensive real estate tax for single-home owners while running for president."

[Soundbite] Lee Jae-myung(DP Leader) : "I am telling the party to cooperate with you on it if possible. Don't be hasty and get greedy."

Lee countered with the ruling party's budget proposal.

[Soundbite] Lee Jae-myung(DP Leader) : "PPP cut the budget proposal by KRW 5.6 tn for permanent rental homes. There is nowhere for people to go."

[Soundbite] Kweon Seong-dong(PPP Acting Chief and Floor Leader) : "It is because of differences between the fiscal philosophies of the DP and us."

[Soundbite] Lee Jae-myung(DP Leader) : "You once said politics is for wiping the tears of ordinary people."

[Soundbite] Kweon Seong-dong(PPP Acting Chief and Floor Leader) : "Ah, yes, it is."

Previously, Lee called the PPP's budget proposal heartless, noting the slashed portion for lower-income earners. In response, the PPP refuted that Lee is not in a position to denounce the budget proposal, as he curtailed the percentage of rental homes for a development project in Baekhyun-dong while serving as Seongnam mayor.