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Parliament speaker vows to quit if 2010 budget fails to pass

All Headlines 13:37 December 27, 2009

SEOUL, Dec. 27 (Yonhap) -- National Assembly Speaker Kim Hyung-o said Sunday he will step down unless the ruling and opposition parties pass a bill on next year's budget within this year.

The passage of the 2009 budget has been stalled as the ruling Grand National Party and the main opposition Democratic Party have been wrangling over whether to implement a project to develop the country's four rivers.

The project proposed by President Lee Myung-bak calls for the government to spend 3.5 trillion won (US$2.9 billion) by 2012 to develop the Han, Nakdong, Geum and Yeongsan rivers in order to prevent floods and cope with water shortages.

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