Woo Won-shik, the ruling party's floor leader, accused the LKP of employing a "brinkmanship" strategy and ignoring a series of economic bills that have been gathering dust amid political squabbles.

"If (the LKP) turns a blind eye to people's livelihoods and brings the judiciary and state audit agency into confusion, what they would end up facing is only public outrage," he said during a meeting with senior party officials.

Among the pending bills is a revision to the law that requires safety standard certification for apparel and consumer products.

The revision aims to delay the law's application by a year, as local firms argue it would hurt their business due to the cumbersome and costly certification process. Violation of the law to be enforced next year is punishable by up to three years in jail or a fine of up to 30 million won ($27,891).

"If the revision is not passed, many small merchants will become criminals as they ring in the New Year," Lee Hoon, a ruling party lawmaker, told reporters.

Ahn Cheol-soo, the leader of the minor opposition People's Party, lambasted both the ruling party and the LKP, saying the parliamentary paralysis is attributable to their brand of "confrontational politics."

"It is frustrating that the legislature is now adrift due to the irrational confrontational politics of the Democratic Party and the LKP, who stand at extreme ends," Ahn said during a party meeting. "Towards the tail end of 2017, nothing seems to have changed (in their confrontations)." (Yonhap)