Jang Dong-hyeok: “If Lee treats the people like pigs in his budget address, it will be a declaration of the end of his administration”

[Financial News] Ahead of President Lee Jae Myung’s address on the government’s 2027 budget proposal on the 2nd, the People Power Party called on him to apologize for “tyranny against people’s livelihoods” and pledge a change in policy.
Party leader Jang Dong-hyeok warned at a Supreme Council meeting held at the National Assembly that day, “If he once again does nothing but heap praise on himself and treats the people like pigs, this budget address will become a declaration of the end of his administration.”
“President Lee has things he must say in his budget address,” Jang said. “First, he must apologize for this tyranny against people’s livelihoods—the real estate hell, the ETF share-price plunge involving Samsung Electronics and SK hynix, and the comprehensive farmland survey—and pledge a change in policy.”
He called on the president to “show the commander-in-chief’s firm resolve on national defense in the face of North Korea’s landmine provocations, nuclear threats and missile launches,” and said he “must also respond to the public’s concerns about the breakdown of the South Korea-U.S. alliance.”
He added that the president “must stop the destruction of the judiciary, including the impeachment of the chief justice and a special counsel on fabricated indictments, and declare that he will face trial with confidence.”
Jang added, “People are having their wallets and bank accounts emptied and even their homes taken away. Yet the government has put forward a record 821 trillion won budget. It is relying on the semiconductor boom and thinking only of ways to hand out money.” He continued, “After running Gyeonggi Province into the ground, they now intend to do the same to South Korea on an even larger scale,” adding, “The People Power Party has scrutinized 100 problematic projects and has already called for 30 trillion won in budget cuts.”
On the Future Fund, he stressed, “The Future Fund’s 104 trillion won in available funds should also be used to repay government bonds. Tomorrow, I plan to personally announce the ‘Five Key Budget Measures to Address People’s Livelihoods.’ With the genuine livelihood budget carefully prepared by the People Power Party, I will safeguard people’s lives and the future of the country.”
Floor leader Jeong Jeom-sig called for a change in the direction of real estate policy. He explained, “As a result of the October 15 Real Estate Measures, which strengthened owner-occupancy requirements and tightened regulations on jeonse loans, home sales have frozen and jeonse supply has dried up. This has caused all housing demand to concentrate in monthly rentals, sending rents soaring and, through a balloon effect, spreading the situation from Seoul to Gyeonggi Province.”
Jeong said, “Despite the situation, the president shared a cryptic post on social media last weekend predicting that home prices would fall, and wrote that he was enduring the difficult road toward normalizing the asset market. Jeonse and monthly rents have surged further over the past year. Is this really the normalization of the asset market?”
He raised his voice, saying, “Because your son is living comfortably at the official residence in Hannam-dong, it seems the jeonse and monthly-rent crisis facing young people looks like someone else’s problem. Why do you tell other people’s precious children to endure a hardship your own son does not face? Tell the president’s second son to find his own place to live, whether on a jeonse lease or as a monthly rental.”

[email protected] Lee Hae-ram Reporter