The suspect who stabbed main opposition Democratic Party(DP) leader Lee Jae-myung in the southeastern city of Busan on Tuesday wrote prior to his crime that the economy will fail regardless of who wins in April's general elections.

The eight-page memo was found by the police in the shirt pocket of the suspect, a man surnamed Kim in his late 60s, who said as he appeared for a pretrial detention hearing on Thursday that his motive was explained in the note.

A local media outlet reported that the note blamed the devastation of the economy on the deterioration of the housing market and failed diplomacy with North Korea during the Moon Jae-in administration.

It added that the DP, which holds a majority in parliament, is only interested in defending its leader Lee despite a change of government under Yoon Suk Yeol.

The Busan Metropolitan Police said on Friday that parts of what was said in the media report are similar to the actual contents of the memo.

The police are carefully considering the release of Kim's personal information and plan to transfer the case to the prosecution after wrapping up their probe next week.