Ruling party lawmaker criticizes candidate Lee Jae-myung's ”Basic Society” plan... ”The start of economic collapse season 2” = South Korea

On the 22nd, Kim Ki-hyun, a member of the ruling People Power Party, commented on the "Basic Society" initiative put forward by Lee Jae-myung, the presidential candidate of the largest progressive opposition party, the Democratic Party of Korea, saying,
This is nothing but the beginning of season two of the economic collapse following the Moon Jae-in administration." On the same day, Rep. Kim posted on his Facebook page that candidate Lee's basic social vision "is a slogan for the Korean people.
"It is a declaration of a socialist economy, and an attempt to apply the absurd logic of 'hotel economics' to the entire national economy," he said.
"But the basic policy is a populist socialist policy, and we all know that Venezuela and Argentina went down that path and their nations collapsed," he warned.
Rep. Kim explained that the basic social concept advocated by candidate Lee is one in which the government will guarantee the livelihood, housing, medical care, education, etc. of all citizens, and asked, "What are the specific measures to secure the necessary financial resources?"
"It doesn't provide any clear explanation, and instead suggests raising taxes on the wealthy, or if that isn't enough, the Bank of Korea can just print more money - it's a far-fetched logic bordering on delusion."
He also said, "It is necessary to provide more specific and generous support to those in vulnerable positions, but distributing cash to all citizens indiscriminately is not acceptable.
"Welfare only leads to a rapid increase in national debt and moral hazard," he said. "In the end, candidate Lee's mirage-like utopia of a basic society will only lower the quality of life of the people.
Looking back on the five years of the Moon Jae-in administration, Rep. Kim said, "Under the mistaken economic policy of 'income-led growth,' supplementary budgets were issued indiscriminately, and the national debt became
"There is a dark history of the debt ballooning by more than 400 trillion won to over 1,000 trillion won (approximately 10 trillion yen)," he said.
If that is the case, Lee should immediately withdraw his populist pledges that endanger the country."