[Polpol News] President Lee's Approval Rises Slightly After October 15 Real Estate Policy... "37% Say Policy Appropriate"

Gallup Poll Results
Real Estate Issues Become a Larger Factor in Negative Ratings of President Lee
Democratic Party Widens Lead: 43% vs. People Power Party's 25%

Following the October 15 Real Estate Policy, President Lee Jaemyung and the ruling Democratic Party of Korea have seen a slight increase in approval ratings. Notably, support has improved in the Seoul metropolitan area, including Seoul, Gyeonggi, and Incheon, drawing attention. Regarding the October 15 Real Estate Policy, public opinion was divided, with slightly more respondents viewing it as inappropriate.

According to a public opinion poll released by Gallup on October 24 (conducted via wireless phone interviews with 1,000 adults aged 18 or older nationwide from October 21 to 23, with a margin of error of ±3.1 percentage points at a 95% confidence level and a response rate of 12.3%), 56% of respondents positively evaluated President Lee’s job performance. This is a 2 percentage point increase compared to last week. The negative evaluation rate fell by 2 percentage points to 33%.

Yonhap News Agency

It is noteworthy that real estate issues have become a more prominent reason for negative evaluations. Among the 325 respondents who gave a negative assessment, 11% cited real estate policy or loan regulations, a 6 percentage point increase from the previous survey. Gallup explained, “Before Chuseok, issues led by the ruling party such as calls for Supreme Court Chief Justice Cho Hee-dae’s resignation, disputes over the truth, and changes to the sedition trial panel were at the forefront. Last week, diplomatic and China-related issues were more prominent, but this week, the proportion of real estate-related mentions has increased, making it a top concern. This appears to be due to the October 15 Housing Market Stabilization Policy, but at this point, it has not been strong enough to significantly change perceptions of the president and the ruling party.”

The Democratic Party’s approval rating also improved. The party’s support rose by 4 percentage points from last week to 43%. The People Power Party’s support remained unchanged at 25%. Notably, the Democratic Party’s approval rating increased in the Seoul metropolitan area compared to last week. In Seoul, support rose from 36% to 41%, and in Gyeonggi and Incheon, it increased from 39% to 45%.

Yonhap News Agency

Regarding the October 15 Real Estate Policy, 37% viewed it as appropriate, while 44% considered it inappropriate. On the issue of property holding tax, 26% favored raising it, 27% favored lowering it, and 33% supported maintaining the current level. Regarding the proposal to strengthen the property holding tax but ease acquisition or capital gains taxes on real estate transactions, 54% supported it, while 27% opposed it.

For more detailed information about the poll, please refer to the website of the National Election Survey Deliberation Commission.