Where Will Public Sentiment Head in the Chuseok Presidential Election?

Six Months Before Next Year's Presidential Election, Real Estate Surge, Daejang-dong Development Favoritism Allegations, and Prosecutor Investigation Manipulation Suspicions Erupt; Chuseok Public Sentiment Shakes, Drawing Attention to Presidential Prospects and Making Next Year's Local Elections for Seoul Mayor and District Heads a Major Issue

[Asia Economy Reporter Jong-il Park] The 20th is the day before Chuseok.

Chuseok, along with Seollal, is one of the most important traditional Korean holidays. This year, due to COVID-19, family gatherings are not easy.

However, Chuseok is a great opportunity to meet family members after a long time. At times like this, it also becomes a perfect chance to gauge public sentiment during Chuseok.

Especially next year, with the presidential election and local elections held consecutively, the public’s attention is focused on these events even more.

The S family also met the day before and had a simple meal together. The topic of conversation that day was naturally the outlook for the presidential election.

Questions and discussions continued, such as “Which party do you think will win next year’s presidential election?” and “Who do you think will be elected president?”

Mr. A said, “Next year, I think the power that truly listens to public sentiment will come to power,” and predicted, “The real estate issue will be the biggest topic.”

Since the current administration took office, real estate prices have skyrocketed, making life harder for ordinary people. He also criticized that even those who have property face heavy tax burdens such as the comprehensive real estate tax.

Mr. B agreed, saying, “That’s right. Next year’s election will highlight the issues of people’s livelihoods more than ever.” He added, “Politicians may say plausible things, but ultimately wise citizens will not be fooled.”

Mr. C expressed distrust in the political sphere, saying, “These days, the public cannot ignore the allegations of corruption in the Daejang-dong development in Seongnam City and the prosecution’s alleged cover-up.” He continued, “It is regrettable when our country, which has become one of the world’s top 10 economies, has yet to see political advancement.”

However, Mr. D analyzed, “Given the political structure divided between progressives and conservatives and by region, achieving stability does not seem easy.”

There is a prevailing forecast that next year’s presidential election will be a battle over the “1%.”

There are concerns that competition between the two major party candidates will become even fiercer. If the outcome is decided by a narrow margin, the post-election situation could be worrisome.

Along with this, attention is also focused on the results of the local elections to be held in June after the presidential election in March next year.

In particular, in Seoul, it is being watched whether the Democratic Party can sweep the mayor and district heads for the 4th time after winning the 5th, 6th, and 7th terms consecutively, or whether Mayor Oh Se-hoon’s landslide victory in the April 7 by-election will lead the People Power Party to a major win.

This is because the 8th term local elections are only nine months away.

This is also why Seoul’s district heads are on edge.