(LEAD) DP welcomes Lee's budget speech; PPP slams failure to address N. Korea, economic woes

The main opposition People Power Party (PPP) harshly criticized President Lee Jae Myung's budget speech on Monday, arguing that it failed to address critical issues such as North Korea's threats and economic concerns, while accusing his administration of wasteful spending. In anticipation of Lee's speech outlining the budget for the upcoming year, PPP lawmakers organized a rally at the National Assembly, denouncing the budget as one that disregards the nation's debt and jeopardizes South Korea's future.

President Lee arrived for the speech, made his points, and departed, according to PPP leader Jang Dong-hyeok, who expressed his disappointment on Facebook. The President made no mention of real estate, the stock market, farmland, the North Korea situation, the South Korea-U.S. alliance, public safety, or judicial issues, according to Rep. Jang.

Although Lee promised to secure essential military capabilities necessary for transferring wartime operational control (OPCON) from the United States, he did not directly reference the alliance or relations with North Korea in his address.

PPP chief spokesperson Park Sung-hoon further lambasted the speech, labeling it "the peak of fiscal recklessness" and a declaration aimed at "draining the nation's coffers."