South Korean President Lee Jae Myung’s presidential approval rating fell for a second consecutive week, dropping to 51.2 percent. This decline reflects growing public concern over government policies and political controversies.
The nationwide survey by Realmeter, conducted from October 20 to 24 among 2,519 adults aged 18 and older, found that 51.2 percent viewed Lee’s performance positively. This represents a one-point decrease from the previous week. Meanwhile, negative assessments stayed steady at 44.9 percent.
The pollster said the drop reflected public distrust caused by alleged speculative property investments by senior officials. In addition, controversial remarks from ruling party members fueled doubts about the effectiveness of tightened real estate rules.
On October 15, the government announced its third round of real estate measures. It designated all districts of Seoul and 12 areas in Gyeonggi Province as overheated speculation zones. Furthermore, authorities cut the mortgage loan cap to as low as 200 million won, down from 600 million won in June.
The measure lowered the mortgage ceiling by 66 percent for homes priced between 1.5 billion and 2.5 billion won. Properties valued above 2.5 billion won faced a separate cap of 200 million won.
Despite the decline, Realmeter noted that strong economic and diplomatic performances helped limit the fall. For instance, the Kospi index surpassed 3,900. In addition, coordination for a Korea-U.S.-China summit and Lee’s town hall in Daegu boosted public perception.
Party support reflected similar trends. A separate Realmeter survey conducted October 23-24 among 1,001 respondents showed the ruling Democratic Party at 44.1 percent, down 2.4 points. Meanwhile, the main opposition People Power Party rose 0.6 points to 37.3 percent. Consequently, the gap narrowed to 6.8 points from 9.8 points the previous week.
Support for minor parties stood at 3.5 percent for the Reform Party, 3.3 percent for the Rebuilding Korea Party, and 1.5 percent for the Progressive Party.
The presidential approval poll has a margin of error of plus or minus 4.1 points. Meanwhile, the party support poll has a margin of plus or minus 3.1 points, both at a 95 percent confidence level.
Analysts say the presidential approval rating decline highlights the challenge for Lee’s administration to maintain public confidence. They also stress the importance of balancing real estate policies with public sentiment.
