Seoul – President Lee Jae‑myung’s approval rating has slipped to a new low, according to a Realmeter survey released Monday. The poll found that 63.3% of respondents disapproved of the president’s performance, while only 33.8% said he was doing a good job.
Housing policy at the center of public frustration
The survey attributes the decline to a combination of factors, most notably dissatisfaction with Lee’s housing agenda. Since taking office, Lee has pledged to curb property speculation by raising taxes on owners of multiple homes and tightening borrowing limits on leveraged purchases. Critics argue that these measures have left many prospective homebuyers feeling locked out of urban markets.
One contentious proposal involves the development of 2,800 acres of land in Seoul’s Yongsan district, including a 740‑acre park that would be smaller than New York’s Central Park. While the plan aims to increase housing supply, opponents fear it would sacrifice valuable green space and transform Seoul into a “mass housing market” rather than a boutique city.
Cabinet turbulence adds to the pressure
Lee’s approval has also been dented by recent cabinet controversies. The withdrawal of a gender‑equality minister nominee and ethics‑violation accusations against a justice minister nominee have drawn sharp criticism from opposition lawmakers and civil‑society groups.
“We look at this as a compound result of various policy issues such as real estate and the stock market as well as political issues,” Blue House spokesperson Kang Yu‑jung told reporters. “We’re listening to the voices of the public with a heavy sense of responsibility.”
Political ramifications and future outlook
Some members of the Democratic Party worry that Lee’s declining numbers could jeopardize the party’s chances of retaining a parliamentary majority in the election scheduled for two years from now. Liberal pundit Kim Eo‑joon warned, “Once you hit 3 (in the first digit) in support rating, no president has recovered from that.”
Lee has not publicly addressed the poll’s findings, but he previously emphasized that the ultimate goal is to finish his term strong. “There’s no point talking about a goal for what kind of support I’d like to get,” he said early in his presidency. “I’m going to do my best with the expectation that it’ll be higher when I finish.”
Historical context
Lee entered the presidency with a reputation as an effective administrator, having risen from a 29% approval rating in 2018 to a peak of 72% two years later as governor of Gyeonggi Province. However, his tenure as president has been marked by a complex set of challenges, including a housing market that has long troubled his liberal predecessor, Moon Jae‑in.
As the administration prepares to address the public directly in an upcoming address, analysts will be watching whether Lee can recalibrate his housing strategy and restore confidence among voters.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
