Rival political parties have kicked off negotiations a day ahead of the 2026 budget deadline.

Floor leaders and chief deputies from the ruling and main opposition factions began talks Monday regarding the budget plan and accompanying bills.

The main opposition People Power Party(PPP) walked out in protest around 20 minutes into the negotiation, and the ruling Democratic Party(DP) claimed that the PPP was unwilling to negotiate unless its terms were met.

The PPP side, which claimed that the government tried to slow down the pace of negotiations due to the absence of Finance Minister Koo Yun-cheol, returned to the table around 50 minutes later.

The parties are divided over regional gift certificates, the presidential office's special activity funds and a push to increase corporate taxation.

The deadline for passing the budget is 12 a.m. Wednesday, but the only two years in which the parties have met that deadline are 2014 and 2020.