"No-Show Led Growth" vs "You Fools"... Fierce Debate Over 'Hotel Economy Theory' [The Words That Shook the Presidential Race]

Han Donghoon Launches Full Offensive at Joint Rally
Lee Jaemyung Counters with Government's Economic Role Theory

The controversy surrounding Democratic Party presidential candidate Lee Jae Myung's so-called "hotel economy theory" continues to spark debate. Former People Power Party leader Han Donghoon continued his offensive regarding this issue during his first joint campaign rally, while candidate Lee Jae Myung sought to confront the criticism head-on.

Former People Power Party leader Han Donghoon is visiting Seomun Market in Jung-gu, Daegu to campaign in support of presidential candidate Kim Moonsoo. Photo by Yonhap News

On May 26, at a focused campaign rally in Nowon, Dobong, and Gangbuk in Seoul, former leader Han stated, "Lee Jae Myung's economic policy is a 'no-show led growth'," and criticized, "If we follow Lee Jae Myung's logic, even Chairman Lee Jae Yong would open a coffee shop, and Warren Buffett would also open a coffee shop." He continued, "Lee Jae Myung is not dangerous because he is evil, but because he is incompetent. If we fight with just cause, we can defeat Lee Jae Myung," he emphasized.

Han Donghoon also said, "This election will ultimately be decided by centrist voters," and stressed, "We must ensure that these voters cast their ballots for Kim Moonsoo, the People Power Party candidate." He added, "We need to clearly distance ourselves from defending martial law and from conspiracy theories about election fraud, and make it clear that we will thoroughly reform the old pro-Yoon style of politics. That is the path to victory," urging, "Please trust what I say."

Lee Jae Myung, the Democratic Party presidential candidate, is appealing for support from citizens during a focused campaign rally held at Pyeongchon Central Park in Dongan-gu, Anyang-si, Gyeonggi Province. Photo by Yonhap News

Candidate Lee Jae Myung responded at his campaign site by referencing the government's role. He said, "When the economy overheats, the government should step in to cool it down, and when the economy becomes too difficult, the government should step in to support it," explaining, "This is the government's role in economic adjustment, as taught in high school textbooks."

Lee Jae Myung stated, "They say they can't increase fiscal spending because it would require borrowing, and just give up," and continued, "Our country's potential growth rate is 2% per year, but current projections say we will only grow by 0.8%. That means the government should provide fiscal spending so we can achieve the remaining 1.2% growth. That's just basic common sense. You fools."

He went on, "I want to ask whether they really don't know, or if they're just pretending not to know and being malicious," and added, "I suspect that those with vested interests oppose fiscal support, thinking that if national debt increases, it will harm their own interests, and so they simply say, 'Someday things will get better on their own.'"