Lee Junseok Calls Lukas Cizek a "Communist" Over 'Hotel Economics,' While Lee Jaemyung Criticizes "Distortion"

Clash Over 'Hotel Economics'
Lee Jaemyung and Lee Junseok Debate the Origins and Ideology Behind the Theory

Lee Jaemyung, the presidential candidate of the Democratic Party of Korea, and Lee Junseok, the presidential candidate of the Reform New Party, clashed once again over the concept of 'hotel economics.' Candidate Lee Junseok pointed out that Lukas Cizek, whom Lee Jaemyung had cited as the originator of hotel economics in his explanation, was a communist thinker.

Yonhap News Agency

At the third presidential debate for the 21st presidential election held on the 27th, candidate Lee Junseok said to candidate Lee Jaemyung, "Lukas Cizek served as editor-in-chief of a Communist Party publication," and asked, "Are you trying to teach communist philosophy in order to defend your remarks on 'hotel economics'?"

In response, candidate Lee Jaemyung countered, "I hope we can refrain from labeling everything as communist just as some do with pro-North accusations," and added, "This is a case that even appears in materials published by the Bank of Korea."

Hotel economics is a theory that candidate Lee Jaemyung mentioned to illustrate the idea that 'the economy thrives when money circulates,' by assuming a situation where a hotel reservation deposit of 100,000 won is paid, in the context of explaining basic income and local currency payments.

Candidate Lee Jaemyung stated, "I am not interested in what kind of ideology Lukas Cizek holds, and what matters is that this is a classic, simplified example of the flow of money," and added, "We should look at the whole picture, and it would be better not to distort or exaggerate certain parts out of context."

Candidate Lee Junseok criticized Lee Jaemyung's response as "evasive," and said, "This is the attitude you show toward the people." He continued, "I would like to have further debates at a venue of your choosing," and added, "Kim Eo-jun's News Factory would be fine as well." In response, candidate Lee Jaemyung replied, "I will think about it slowly."