Presidential Approval Ratings Decline, Government Urged to Review and Improve Governance

President Lee Jae-myung's administration is facing a continued decline in public approval, with a recent Korea Gallup poll showing negative assessments at 50% for the first time, a 3% point drop in positive evaluations. While another poll indicated a slight rebound, the overall trend suggests a persistent downward trajectory since the June local elections and the Democratic Party's national convention.

This decline in support could weaken the administration's governing capacity, particularly if ratings fall into the 30% range, potentially accelerating the erosion of its mandate. Experts urge the President, government, and ruling party to urgently address the situation with a thorough review of national policies. While a dip in approval after the initial "honeymoon period" is common, the current rate of decline is considered concerning.

Several factors are contributing to this trend. The stock market's sharp downturn from its peak and the government's inability to control rising real estate prices, despite various measures, are significant issues. Although asset prices are difficult to control solely by government will, missteps such as introducing leveraged products that increase stock volatility and backtracking on real estate tax reforms after facing criticism have eroded public trust.

Public anxiety is also fueled by concerns over the police's investigative capabilities, highlighted by cases like the "Jang Yoon-gi incident" and the "Jeju missing person case" being falsely closed. The debate over supplementary investigation rights has overshadowed efforts to strengthen police capacity and oversight. Furthermore, divisions within the ruling party following its national convention, partly exacerbated by the President's perceived endorsement of certain candidates, have alienated some supporters.

Moving forward, the administration must prioritize stabilizing livelihoods and alleviating public anxieties. The Democratic Party's decision to postpone discussions on a "prosecutorial investigation special prosecutor" to focus on legislative and budget matters related to public welfare is seen as a positive step. The focus should be on demonstrating tangible results in addressing pressing public concerns to regain trust.