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PRIME TIME NEWS 22:00 The Korean government, ruling party and... the presidential office meet for the first time in more than two months... when talks among them were severed over a revision on parliamentary law. North Korea... is reportedly gearing up to launch a new long-range rocket... to mark the 70th anniversary of its ruling Workers′ Party in October. Korea unveils measures to tackle the country′s snowballing household debt,... one of the major risks that could hurt the country′s growth potential. Stay tuned... for these stories and more. Hello... and welcome to Prime Time News... on this Wednesday July 22nd. I′m Hwang Ji-hye. And I′m Daniel Choy. Thanks for tuning in. Title: Supplementary budget and reforming labor market dominates tripartite meeting President Park Geun-hye′s top aides, top government officials, and leaders′ of the ruling Saenuri Party held a three-way policy meeting this evening,... the first of its kind in more than two months. It also marks the first such meeting since Prime Minister Hwang Kyo-ahn... took office. The meeting focused on urgent political issues like the parliamentary approval for a supplementary budget and reforming Korea′s rigid labor market in the second half of this year. Presidential Chief of Staff Lee Byung-kee... and Prime Minister Hwang Kyo-ahn... said the extra budget bill must gain parliamentary approval by Friday this week as releasing the funds in a timely manner is critical to overcome MERS-related damage and to revive the faltering economy. In order to do so, Saenuri Party′s Chairman Kim Moo-sung... and Floor Leader Won Yoo-chul... said they will do their best to cooperate with the opposition bloc to meet Friday′s deadline. They also stressed that the three entities were on the same boat when it comes to improving the livelihoods of the people. Title: National Assembly′s July session stalled by spy agency hacking scandal For another day,... Korean lawmakers failed to reach an agreement over the spy agency scandal... and a bill for injecting a 10-billion U.S. dollar supplementary budget. With both ruling and opposition parties mired in debate,... concerns grow that July may come and go with little progress on either issue. Take a listen. "The budget supplement is to help cover damages related to the MERS outbreak and the drought and to stabilize the economy. A sufficient reinforcement of funds is necessary to achieve the maximum effect. The bill should be approved by Friday." "The Saenuri Party has refused our demands to raise the corporate tax rate to reduce the fiscal deficit and also to hold a parliamentary hearing ." The floor leaders of the rival parties will meet Thursday... to close gaps on both issues. Title: N. Korea completes work on missile launch site upgrade North Korea reportedly upgrades its missile facility... that will allow firing a long-range rocket... and according to South Korean military sources,... such launch could