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Moon's approval rating dips amid housing market turmoil: Realmeter

All News 11:17 November 02, 2020

SEOUL, Nov. 2 (Yonhap) -- President Moon Jae-in's approval rating has fallen marginally amid concerns over the growing turmoil in the country's housing rent market, a poll showed Monday.

In the Realmeter survey of 2,536 voters nationwide from last Monday through Friday, the approval rating of Moon's presidency stood at 44.9 percent, down 0.7 percentage point from a week earlier.

The proportion of those who gave a negative assessment of Moon rose 1.3 percentage points to 50.9 percent. Of those surveyed, 4.2 percent said they were either unsure or declined to assess Moon's performance.

The survey's margin of error was plus or minus 1.9 percentage points.

President Moon Jae-in presides over a meeting with his senior secretaries at the presidential office Cheong Wa Dae in Seoul on Oct. 26, 2020. (Yonhap)

In particular, support for Moon among those in their 30s tumbled 8.1 percentage points to 45.5 percent, while approval from women in general also dropped 3.8 percentage points to 45 percent.

In terms of region, the president's approval in Daegu and North Gyeongsang Province dropped 4.5 percentage points to 30.2 percent, while support from Seoul also slid 3.4 percentage points to 43.3 percent.

Support from Busan, Ulsan and South Gyeongsang Province climbed 4.5 percentage points to 45.4 percent. Moon also saw hikes in approval from those in their 50s and students.

The approval rating for the ruling Democratic Party (DP) also fell marginally, down 0.3 percentage point to 34.8 percent. Support for the main opposition People Power Party climbed 1.6 percentage points to 28.9 percent.

Realmeter assessed that concerns over the slowing supply of "jeonse" property and other ongoing problems in the real estate market appears to have prompted the loss in confidence in the presidency and the ruling party.

Jeonse is a home rental arrangement unique to South Korea in which tenants pay a large sum of money as a deposit instead of paying monthly fees. In late July, three new laws aimed at stabilizing housing prices and protecting tenants were passed, but this has ended up freezing the jeonse market.

The polling firm also cited the DP's move in revising its party constitution to compete in next year's Seoul and Busan mayoral by-elections as a factor in the withdrawal of support from some moderates toward the ruling party.

The rule prohibits the party from fielding a candidate in a by-election if it is caused by its member losing its elected seat due to a "serious wrongdoing."

The Seoul and Busan mayoral seats were left vacant earlier this year by two DP members, Park Won-soon and Oh Keo-don, after they were accused of sexual misconduct.

Lee Nak-yon (C), head of the ruling Democratic Party, presides over a meeting of the party's supreme council at the municipal government's building in Buan, North Jeolla Province, southwestern South Korea, on Oct. 30, 2020. (Yonhap)


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