President Lee's Approval Rating Sinks into Negative Territory Amidst Growing Public Concerns

South Korean President Lee Jae-myung's administration faces a significant challenge as his job approval rating has dipped into negative territory, with 44% approving and 46% disapproving, according to a recent Korea Gallup poll. This marks a sharp decline from three weeks prior, when approval stood at 51% positive and 38% negative.

The erosion of public support is particularly evident among younger voters and in the capital city of Seoul. In the latest survey, Seoul registered 42% approval and 47% disapproval, while the 20s demographic showed 30% approval and 48% disapproval, and the 30s demographic reported 37% approval and 49% disapproval. These figures are worse than the national average, indicating a growing disconnect with key demographics.

While the exact causes are debated, potential factors include dissatisfaction with real estate policies, the impact of a falling stock market, and concerns among young women following the removal of prosecutorial supplementary investigation powers. However, some analysts argue these are symptoms of deeper, systemic issues such as widening wealth and income inequality, the decline of regional areas, and a shortage of quality jobs, which are hitting the 20s and 30s generations the hardest.

President Lee appears aware of the growing concerns. He recently chaired meetings to address real estate and stock market issues, acknowledging that "youth are now becoming almost a vulnerable class." He has since directed a "full-scale expansion" of housing supply and swift implementation of related measures. The administration's ability to reverse this negative trend will be crucial for its future political standing.