President Lee Jae Myung's Approval Rating Drops to Record Low

President Lee Jae Myung's approval rating has fallen to the lowest level since his inauguration, according to a National Barometer Survey conducted from Monday to Wednesday. The poll shows Lee's approval rating at 49 percent, which is a 4 percentage point decrease from the survey conducted two weeks prior. This marks the first time his approval rating has dipped below 50 percent in the biweekly survey. Disapproval of his performance rose 6 percentage points to 43 percent.

Public sentiment regarding the administration's real estate policies is largely negative, with 56 percent of respondents stating the government is doing a poor job and 34 percent giving positive assessments. While 46 percent of respondents support the government's property tax revision plan compared to 41 percent who oppose it, 55 percent expect the revision to increase monthly rental prices and jeonse deposits. Jeonse is a South Korean rental system where tenants provide a large lump sum deposit that is returned at the end of the lease.

Center leaning coverage provides additional context for the decline, citing a separate Realmeter poll and attributing the drop to the property tax revision and a Criminal Procedure Act revision that removes the direct investigation authority of prosecutors. The tax adjustments target high end home owners and non resident owners to stabilize the housing market, though critics argue the measures may increase market uncertainty and raise costs for tenants.

Regarding political party support, the ruling Democratic Party remained unchanged at 40 percent. The main opposition People Power Party saw a 2 percentage point increase to 23 percent. The Democratic Party maintains higher support than the People Power Party across all regions except North Gyeongsang Province and Daegu, and across all age groups except those aged 20 and younger.