The main opposition People Power Party(PPP) has vowed all-out efforts toward substantial economic recovery so that the people's lives can take a leap forward again. 

Senior party spokesperson Choi Bo-yun said in a statement on Tuesday that the people are deeply concerned this Lunar New Year's holiday as the nation faces inflation, economic stagnation and uncertain economic conditions. 

Choi stressed that the PPP will work endlessly this year for the recovery of people's livelihood by serving as the "red horse" of hope. 

The lawmaker apparently used the phrase as this year marks the Year of the Red Horse on the lunar calendar.