Kwon Young-se, chairman of the emergency response committee of the People Power Party, criticized Lee Jae-myung, the leader of the Democratic Party of Korea, for his recent “right-click” approach, saying, “His recent statements and attitudes regarding the economy reveal a lack of knowledge and impoverished policy philosophy regarding the national economy.”
At an emergency committee meeting at the National Assembly on the 24th, Kwon expressed concerns, stating, “It is somewhat lucky that Lee has recently shown interest in the economy, but I’m worried it could lead to bigger problems.”
Kwon argued, “The responsibility for declining growth rates and lost economic vitality lies largely with politics,” and expressed concerns that “instead of supporting corporate activities, the National Assembly hinders and troubles them, creating a tougher environment for businesses.”
Regarding Lee, Kwon said, “He pretends to be a pro-business conservative politician in front of corporations, saying that economic growth is entirely about corporate growth. Yet, as soon as he meets with the Korean Confederation of Trade Unions, he reveals his true anti-corporate far-left political nature by advocating for a four-day workweek and criticizing the reduction of the highest inheritance tax rate as a tax cut for the ultra-rich.”
Kwon further stated, “While claiming to save businesses, he pushes for the ‘Yellow Envelope’ law, which harms companies. While claiming to boost the economy, he pushes for amendments to the Commercial Act that reduce economic vitality. He talks about lowering real estate inheritance tax but refuses to budge on corporate inheritance tax. When his supporting base—the unions—opposed the exception of the 52-hour workweek for the special semiconductor law, he categorically refused. He advocates for tax credits for companies and tax cuts for workers while simultaneously proposing to provide 250,000 won in cash to everyone.”
Kwon added, “Cutting taxes will lead to a reduction in national income, so where will the money come from? Promising both spending and tax cuts while neglecting the future generation essentially aims to deplete national finances,” he pointed out.