The main opposition People Power Party(PPP) strongly criticized President Moon Jae-in's parliamentary speech on next year's state budget from the previous day.

At a party meeting on Thursday, PPP interim chief Kim Chong-in questioned how the administration planned to stabilize the country's soaring "jeonse," or lump-sum rental prices, as the president had pledged.

Stating that the government's real estate policies have only caused a further price increase, Kim urged the Moon administration to review its policies, acknowledge its shortfalls and change its policy directive.

PPP floor leader Joo Ho-young raised concerns over the administration repeatedly expanding fiscal expenditure without mentioning plans to reduce national debt.

On the president's pledge to cooperate with the opposition, Joo said the president's actions prove otherwise, and that such promises can only be viewed as political propaganda.

The floor leader added that the presidential office has yet to respond to an incident from the day before, when Joo was searched by presidential security as he attempted to attend a meeting with the president prior to the budget speech.