Seoul: President Lee Jae Myung will meet leaders of rival parties next week to discuss ways to support an economy hit by the war in the Middle East, a senior aide said Friday.

According to Yonhap News Agency, Lee is scheduled to meet with Democratic Party (DP) leader Jung Chung-rae, DP floor leader Han Byung-do, People Power Party (PPP) leader Jang Dong-hyeok, and PPP floor leader Song Eon-seok on Tuesday at Cheong Wa Dae, presidential secretary for political affairs Hong Ik-pyo told reporters.

Prime Minister Kim Min-seok and Kang Hoon-sik, presidential chief of staff, will also join the gathering. The meeting is intended to establish a consultative body involving the ruling and opposition parties to address people's livelihood issues, as Lee believes national unity and bipartisan cooperation are essential in responding to the economic crisis and global uncertainty stemming from the war in the Middle East, Hong said.