President Lee's Approval Dips Amid High Prices and Weak Won

President Lee Jae-myung's Job Approval at 61.5% · First Decline in Five Weeks, Down 1%p from Previous Week · Party Support: Democratic Party 49.9%, PPP 31.3%

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By Noh Hae-cheol
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null - Seoul Economic Daily Politics News from South Korea

President Lee Jae-myung's job approval rating has declined for the first time in five weeks. The drop is attributed to growing public discontent over high prices and a weak won driven by the prolonged U.S.-Iran war.

According to a survey by Realmeter commissioned by Energy Economy News and released Friday, 61.2% of respondents gave a positive assessment of President Lee's job performance, down 1 percentage point from the previous week. The poll surveyed 2,519 adults aged 18 and older nationwide from May 30 to June 3.

Negative assessments rose 1.1 percentage points to 33.3%. Those who responded "don't know" accounted for 5.5%.

"The won breaking through the 1,530 level against the dollar and surging oil prices amid the prolonged Middle East war have intensified the high-price, weak-won environment, increasing the economic burden on ordinary citizens," Realmeter said in its analysis.

A separate party approval survey of 1,005 adults aged 18 and older conducted June 2–3 showed the Democratic Party of Korea at 49.9% and the People Power Party (PPP) at 31.3%. The Democratic Party fell 1.2 percentage points from the previous survey, while the PPP rose 0.7 percentage points.

"The Democratic Party saw notable defections among small business owners, working-class voters, and those in their 30s and 40s due to economic anxiety from high prices and a weak won," Realmeter said. "Support also declined in the Gwangju and Jeolla regions following the expulsion of Jeonbuk Governor Kim Gwan-young over allegations of cash distribution."

Regarding the PPP, Realmeter said, "The Daegu mayoral nomination dispute was settled by a court ruling, and the party's 'half-price jeonse (lump-sum deposit lease)' welfare policy proposal, along with public sympathy for the government's Middle East crisis response including a war supplementary budget, helped consolidate support in the Daegu-Gyeongbuk region and among voters in their 30s."

The Rebuilding Korea Party recorded 2.8% support, followed by the Reform Party at 2.3% and the Progressive Party at 1.5%. Unaffiliated voters stood at 8.2%. Both surveys were conducted using automated wireless phone responses.

The presidential approval survey had a margin of error of ±2.0 percentage points at the 95% confidence level, with a response rate of 4.9%. The party approval survey had a margin of error of ±3.1 percentage points at the 95% confidence level, with a response rate of 4.2%. Detailed information is available on the National Election Survey Deliberation Committee website.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.