Lee Jae-myung Government Approval Rating Hits Record Low of 38%

This phenomenon, where approval ratings decline and negative evaluations rise concurrently, indicates a deepening distrust in the government.

This is even lower than Daegu-Gyeongbuk (34%) and Incheon-Gyeonggi (38%). The host commented, "Given that the state approval rating in the Seoul area came out at 29% ahead of next year's Seoul mayoral election, it seems like a very big burden for the Democratic Party and the Lee Jae-myung government." This low approval rating in Seoul is analyzed to be a significant burden for the Democratic Party and the Lee Jae-myung government in anticipation of next year's Seoul mayoral election. In particular, real estate issues are interpreted to have directly impacted public opinion in Seoul.

While conservative voters maintain strong support as before, the government's support base appears to be faltering.

President Lee Jae-myung's approval rating was in the mid-60s in the third week of May 2026, but it sharply declined by the second week of September. Notably, the Seoul region's approval rating fell by 34%p, from 63% in the third week of May to 29%, indicating a severe situation. The Incheon-Gyeonggi region also saw a 24%p drop from 62% to 38%, and the approval rating among centrist voters also fell by 27%p from 64% to 37%. This overall pattern of supporter departure is prominent, signifying a significant weakening of the government's support base in a short period.

Furthermore, personnel issues have been newly added as a cause for negative evaluations, indicating that dissatisfaction with the government is spreading across various fronts.

The interlocutor stated, "We are exactly about one-fifth of the way through the term. So, if this kind of decline in approval ratings appears now, I actually think it will be a situation that will be difficult to reverse," analyzing that an early-term decline could be a crucial turning point for future state affairs. While an early-term decline in approval ratings could act as a preventative shot, it could also lead to an irreversible situation, likening the current situation to "bitter but beneficial medicine."

An analysis suggests that the Lee Jae-myung government was launched in a different social environment than the Moon Jae-in government. The host explained, "Now it's a bit different from the Moon Jae-in administration because we are in the process of overcoming internal strife. The Lee Jae-myung government was launched in a situation where society was extremely polarized." During the process of overcoming internal strife, society was in a state of extreme polarization, making centrists easily swayed. Therefore, it was suggested that the government needs to review overall state affairs through 'red team' operations and conduct governance that considers these social peculiarities.

Difficulties in governance and changes in public perception after the impeachment of President Yoon Seok-yeol were pointed out. The speaker stated, "It exists on both the left and the right, I think. First, what distinguishes the People Power Party after the Yoon Seok-yeol impeachment from the Park Geun-hye impeachment is the lack of self-reflection and apology, isn't it?" criticizing the conservative forces' 'holding out' strategy without reflection or apology, unlike during the Park Geun-hye impeachment. After the impeachment, conservative forces appear to be engaged in entrenched online warfare. Meanwhile, centrist voters have learned from the experience of their expectations not being met by the previous Moon Jae-in government. The Lee Jae-myung government's failure to sufficiently satisfy these heightened expectations of centrist voters is also analyzed as a reason for the decline in approval ratings.

The core of South Korea's real estate problem lies in the overpopulation of the Seoul metropolitan area, which causes differences in empathy for real estate issues across regions. Residents of the metropolitan area, in particular, tend to be more sensitive to failures in real estate policy.

The government decided to revert the basic deduction for the Comprehensive Real Estate Tax on non-residential single-owner homes from 900 million won to 1.2 billion won. The host explained the policy change, stating, "They decided to revert the basic deduction for the Comprehensive Real Estate Tax on non-residential single-owner homes from 900 million won back to 1.2 billion won." While this is interpreted as a policy to appease public sentiment, it has been criticized for having little tangible effect on working-class residents in the Seoul/Gyeonggi area. It is analyzed that the benefits of this policy reversal will be limited to the top 1% of homeowners. This policy retreat has been criticized for giving the impression that the government has lost consistency in its reform efforts, leading to a decline in approval ratings.

The host remarked, "The moment you give the impression that you are wavering or indecisive, what do the operative forces do? They shake it even more." It was criticized that an unwavering stance on reform policies is essential for building a strong support base, and a firm response should have been shown from the beginning. The host warned that the moment the government appears indecisive, the opposition's attacks could intensify.