During a meeting to discuss the direction of economic policy in the second half on Wednesday, President Yoon Suk Yeol seemed to criticize the main opposition Democratic Party's (DP) cash handout proposal.

During the closing remarks, Yoon questioned why one would stop at a 250 thousand won cash handout per person, and "not one billion or ten billion won each."

The remarks apparently target a DP pledge during the April general elections to push a bill for such a universal handout.

The president said such cash handouts would lead to skyrocketing inflation and cause the country's credit rating to collapse, making it impossible for the government and the companies to operate overseas.

Yoon also warned against issuing government bonds without consideration of a sound fiscal policy, in what seemed to be in response to the DP's proposal for funding the cash handouts.

Rather than just handing out money, Yoon said the government should provide "reasonable and customized support for those who really need it."