seoul: The ruling and main opposition parties have reached an agreement to pass a bill that will double the protection of bank deposits. This decision will be formally addressed at the forthcoming parliamentary plenary meeting. According to Yonhap News Agency, Rep. Kim Sang-hoon of the ruling People Power Party (PPP) and Rep. Jin Sung-joon of the main opposition Democratic Party (DP) announced that the agreement involves increasing the maximum amount protected in bank deposits to at least 100 million won (approximately US$71,164) per individual. This is a significant increase from the current ceiling of 50 million won, which has been unchanged since 2001. The decision to revise the deposit protection ceiling comes in response to calls for the limit to better align with the nation's economic growth. Beyond this agreement, both parties aim to pass over 70 additional bills during the plenary session scheduled for Thursday. These include a revision of legislation aimed at fostering advancements in the semicondu ctor and artificial intelligence sectors. .