The governing and opposition parties agreed Tuesday to normalize the National Assembly from Thursday.
In the opening session, lawmakers will elect the new Assembly speaker, they said.
Kim Hyong-o, a four-term lawmaker of the governing Grand National Party (GNP), is the sole candidate for the post. It is customary for Assemblymen to pick the speaker from among ruling party lawmakers.
The agreement was made at a meeting between GNP floor leader Hong Joon-pyo and his counterpart Won Hye-young of the largest opposition Democratic Party (DP) in the Assembly building.
The two floor leaders decided to hold the inaugural ceremony of the unicameral legislature, whose four-year term began May 30, at 2 p.m. Friday.
The GNP accepted the opposition demand for an Assembly investigation of the government's decision to resume U.S. beef imports, which was a prerequisite to the Assembly normalization set by the opposition.
Four ad hoc parliamentary panels will be formed to look into the resumption of beef imports, handle the opposition's bill to monitor infectious diseases in cattle, work out measures for public firms and take steps to cope with soaring oil prices.
Earlier in the day, the GNP and the minor opposition Liberal Forward Party (LFP) made similar agreements.
After meeting with Hong, LFP floor leader Kwon Sun-taek told reporters, ``we decided to normalize the Assembly to help overcome the difficulties facing the nation and stabilize the people's livelihood.''
The DP and other opposition parties have boycotted the Assembly, demanding that the government renegotiate the deal to resume beef imports from the United States.