South Korea's Lee drops top policy adviser as housing concerns weigh on support

SEOUL: South Korean President Lee Jae Myung's chief economic policy adviser, Kim Yong-beom, has resigned amid growing concerns over housing affordability and market volatility. The cabinet reshuffle, which took place days after the previous one, follows public criticism of the president's expansionary fiscal policies and the implementation of single-stock leveraged ETFs.

Kim's departure has coincided with a slight dip in Lee's approval rating, which now stands at 38.9%, its lowest point since he assumed office last year. The pollsters suggest that housing concerns and rental costs have negatively impacted public sentiment. Experts believe that a cabinet reshuffle alone is unlikely to restore Lee's support, as voters are increasingly skeptical of the government's ability to address their concerns.