South Korea’s Lee hits new approval low as housing discontent grows

South Korean President Lee Jae-myung has hit a new low in approval ratings, with 63.3% of respondents disapproving of his performance, according to a Realmeter survey. This comes as he enters the second year of his five-year term and faces growing public discontent over key policies, particularly housing. The decline in support is attributed to various factors, including housing policy, cabinet appointments, and allegations of ethics violations against the justice minister nominee.

Lee has not commented publicly on his falling popularity, but has expressed his focus on the "finish line." Some Democratic Party members and supporters are concerned that his approval rating may not recover soon enough to help the liberals retain a parliamentary majority in an upcoming election. Lee has vowed to address housing issues, such as raising taxes on multiple home owners and tightening borrowing restrictions, but critics argue these measures have made it harder for prospective homebuyers to enter urban housing markets.

The debate over developing land in Seoul's Yongsan district has highlighted the tension between housing supply and green space.