SEOUL, May 22 (UPI) -- An economic theory has sparked controversy during South Korea's presidential campaign, with the opposition leader introducing a classic economic metaphor called the "hotel economy."
The concept is straightforward. A traveler visits a small town and pays a hotel $100 as a deposit. The hotel owner uses the money to pay off a debt at a furniture store, whose operator uses it to buy chicken at a nearby restaurant.
The restaurant owner spends it at a stationery shop, and the shop owner uses it to repay her debt owed to the hotel. Finally, the traveler cancels the reservation, receives a refund of the original $100 and leaves town.
Although no money actually remained in the town, multiple transactions occurred, debts were cleared and local commerce was activated, according to Lee Jae-myung of the main opposition Democratic Party.
A Gallup Korea poll conducted Monday and Tuesday showed that Lee led with 46%, ahead of Kim Moon-soo of the ruling People Power Party, who had 34%.
