Lee’s Approval Rating Hits a Dead Cross Again Amid Mortgage Lien Controversy

[Financial News] President Lee Jae-myung’s approval rating for state affairs has once again hit a dead cross. The latest decline appears to have been affected by the controversy over the mortgage lien set during the sale of the president’s residence, first reported exclusively by Financial News.
According to a Realmeter poll commissioned by Energy Economy Newspaper and released on the 27th, the president’s negative rating for state affairs stood at 49.5%, surpassing the positive rating of 46.3% within the margin of error (95% confidence level, ±2 percentage points).
From mid-last month to early this month, the president’s negative rating had been below the positive rating within the margin of error. But in the survey conducted two weeks ago and the one released the previous week, the positive rating again moved ahead within the margin of error. In this latest poll, however, the negative rating was found to be 3.2 percentage points higher than the positive rating.
Realmeter said the controversy over the mortgage lien on Lee’s Bundang Apartment became a negative factor. Lee sold the apartment for 2.9 billion won, and during the process, a mortgage lien worth 1.77 billion won was set without interest. Since the deadline for transferring membership rights in the redevelopment association falls at the end of this month, he appears to have rushed the deal by using the lien to secure a fair price. The ruling Democratic Party of Korea (DPK) emphasized that it was a normal transaction, while the opposition criticized it as a loophole used to evade lending regulations.
As the president’s approval rating fell, support for the DPK also edged down slightly. It has declined for two consecutive weeks since the second week of July, reaching 41.3%. That puts it within the margin of error of the People Power Party, which stood at 40.6% (95% confidence level, ±3.1 percentage points). The DPK had initially held a lead over the People Power Party outside the margin of error, but since last month, the opposition party’s support has entered the 40% range, and the two have been trading places within the margin of error.
The survey on the president’s performance was conducted from the 20th to the 24th among 2,505 people nationwide. The party approval survey was conducted from the 23rd to the 24th among 1,001 people nationwide, using a 100% wireless automated response system. For more details, see the website of the Central Election Poll Deliberation Commission.

[email protected] Kim Yun-ho Reporter