The main opposition People Power Party(PPP) has criticized five policies President Lee Jae Myung announced during his New Year’s press conference in a bid to make 2026 a year of great transformation for the country. 

In a statement on Wednesday, PPP chief spokesperson Park Sung-hoon said the president has deceived the public by talking about achieving “growth for all” while seeking to tighten the government’s grip over businesses through legislation Park described as “anti-business” and “pro-labor.”

Park said the administration’s recent package of incentives, including injections of state funds for the creation of “special consolidated cities” to achieve growth based on regional development, is part of a campaign strategy for the June 3 local elections.

The spokesperson also took issue with the administration’s failure to rein in housing prices in the capital region, as well as the lack of response measures to deal with the soaring currency exchange rate.

He then urged the administration to stop indiscriminately distributing unnecessary subsidies and cash payouts if it is serious about tackling inflation.