Chuseok Table Heated by 'Livelihood Economy'... Public Sentiment on Stock and Real Estate Policies

According to The Financial News, during the Chuseok holiday, local public sentiment converged on the demand that the Lee Jae-myung administration, now in its fourth month, along with the Democratic Party of Korea (DPK) and the broader political sphere, should prioritize the livelihood economy. Among these issues, inflation, the stock market, and real estate drew the most attention. There was a mix of optimism about the revived stock market after a prolonged economic downturn and frustration over the unresolved real estate problems.
On the 9th, The Financial News gathered public sentiment from Seoul, the Seoul metropolitan area, and across the country during the Chuseok holiday. The results showed that concerns about the livelihood economy were paramount. In particular, there was growing anticipation for the stock market, which had finally gained momentum after a long slump, but this was accompanied by anxiety about when the rally might end.
A woman in her 30s working in Seoul said, "The Lee Jae-myung administration's pledge to reach Korea Composite Stock Price Index (KOSPI) 5000 has improved perceptions of the domestic stock market compared to before. It seems the government is setting a clear direction for the capital market, and even compared to overseas markets, it deserves a positive assessment."
A man in his 20s working in Cheongju remarked, "As the perception that profits can be made spreads, more young people are entering the stock market. It's a positive sign for the expansion of the capital market base."
A self-employed man in his 60s from Gwangju Metropolitan City stated, "Because the government is taking the lead, there is trust, and I believe investments will continue to increase."
On the other hand, a man in his 40s working in Daegu commented, "It's a relief that the KOSPI, which hadn't risen until now, is finally going up, but I'm afraid of when it might fall. In the past, the KOSPI surged when liquidity was injected, but then it crashed just as quickly. If the numbers go up but don't translate into real results, that's a problem."
A man in his 60s from Miryang, Gyeongsangnam-do added, "Recent issues like tariffs and the unstable relationship between Korea and the US make me uneasy. I'm concerned that these factors could negatively impact stock prices."
There was widespread concern about real estate policies. In particular, residents of Seoul and the Seoul metropolitan area pointed out issues such as rising apartment prices, mortgage loan regulations, and problems with apartment supply.
A man in his 40s working in Seoul said, "Policies should be market-oriented, such as increasing the supply of apartments that people want to live in. However, focusing solely on regulation, like restricting loans to suppress demand, is problematic. Despite these regulations, apartment prices in Seoul have continued to rise, and with reduced loan limits, it's become even harder to buy a home."
A woman in her 30s living in the Seoul metropolitan area and working at a public corporation criticized, "Loan restrictions may reduce the number of Youngkkeuljok (people who invest in real estate by leveraging every possible financial resource) and multiple home owners, but in reality, non-homeowners who need to buy a house are finding it even harder to purchase in the metropolitan area."
Conversely, in other regions, there was concern about a slump in the real estate market. A man in his 40s working in Daegu said, "In Seoul, the lack of homes has sent prices skyrocketing, prompting both the government and the Seoul Metropolitan Government to push for large-scale supply, but Daegu is practically empty. I believe tailored real estate measures by region are needed to revitalize the local real estate market."
A woman in her 60s living in Gwangju Metropolitan City pointed out, "While housing prices are rising in the metropolitan area, people in the provinces are anxious about when prices will fall."
Regarding the Livelihood Recovery Consumption Coupon, which has been distributed twice since the launch of the Lee Jae-myung administration, many said it was helpful, but there were also concerns about its effectiveness and sustainability.
A man in his 50s working in Sejong Special Self-Governing City said, "I used it well for now, but I'm not sure how much it actually benefited small business owners or the local economy."
A woman in her 50s and a housewife in Busan commented, "It was somewhat helpful. Small business owners also said it helped them," but she added, "I'm not sure how long the effect will last."
A woman in her 30s working as a doctor in Goyang, Seoul Metropolitan Government remarked, "While it's meant to boost the economy, it's like a sleight of hand that uses budget funds that should be targeted elsewhere just to temporarily satisfy people."
cjk@fnnews.com Choi Jong-geun, Kim Yun-ho, Song Ji-won, Lee Hae-ram, Kim Hyung-gu Reporter