A Gallup Korea poll found that 44% of respondents viewed the Lee Jae-myung government’s October 15 real estate measures as “inappropriate.” President Lee Jae-myung’s approval rating, which had fallen to a record low of 54% last week since his inauguration, partially recovered to 56% this week.
According to Gallup Korea’s survey conducted from the 21st to the 23rd, 44% of respondents answered “inappropriate” when asked, “What do you think about the housing market stabilization measures, including expanding real estate regulation zones and strengthening loan-to-value ratio limits?” Thirty-seven percent responded “appropriate,” while 19% said they were unsure or refused to answer.
By region, only in the Honam region did more respondents (49%) view the October 15 measures as “appropriate” than “inappropriate” (29%). In Daegu and Gyeongbuk, 55% said “inappropriate,” followed by 49% in Seoul and 48% in Busan, Ulsan, and Gyeongnam. Those who said “appropriate” were 25% in Daegu and Gyeongbuk, 36% in Seoul, and 35% in Busan, Ulsan, and Gyeongnam. Incheon and Gyeonggi showed 39% “appropriate” and 43% “inappropriate,” while the Chungcheong region had 36% “appropriate” and 37% “inappropriate.”
By age group, those in their 40s (53%) and 50s (48%) leaned toward “appropriate,” while other age groups favored “inappropriate”: 57% of those in their 30s, 51% of those in their 60s, 45% of those over 70, and 39% of those in their 10s and 20s (ages 18–29).
Evaluations of the October 15 measures largely differed by political leaning. Sixty-seven percent of conservatives and 42% of moderates viewed the measures as “inappropriate,” while 57% of progressives said “appropriate.” Seventy-three percent of People Power Party supporters and 51% of independents criticized the measures, whereas 56% of Democratic Party of Korea supporters approved.
In a separate survey on real estate holding taxes, such as the Comprehensive Real Estate Tax, 33% of respondents said the current level should be maintained, 27% advocated lowering it, and 26% supported raising it. Among progressives, 44% favored an increase and 31% a decrease. Conservatives preferred a decrease (40%) or maintaining the current level (34%), while moderates supported maintaining (37%), increasing (28%), or decreasing (23%).
Regarding the proposal to raise real estate holding taxes while lowering acquisition and capital gains taxes, 54% of respondents agreed, with opposition at 27%. Support was 59% among progressives, 58% among moderates, and 51% among conservatives, showing little variation by political leaning.
President Lee Jae-myung’s approval rating rose 2 percentage points to 56%, while negative evaluations decreased by 2 percentage points to 33%.
Positive evaluators cited the economy and livelihoods (19%), diplomacy (14%), overall performance (7%), communication (7%), competence (6%), and execution speed (5%) as reasons. Negative evaluators pointed to diplomacy (15%), real estate policies and loan regulations (11%), pro-China policies and visa-free entry for Chinese (9%), economy and livelihoods (8%), overall poor performance (7%), authoritarianism (6%), and morality (6%).
Gallup Korea noted, “The overall approval rating for President Lee has remained largely unchanged before Chuseok or last week, with only the reasons for negative evaluations shifting. Before Chuseok, issues like pressure on Chief Justice Jo Hee-de to resign, truth disputes, and changes to the insurrection trial bench dominated. Last week, diplomacy and China-related issues rose, while this week, real estate-related mentions surged to the top. This appears linked to the October 15 measures, though they have not been strong enough to fundamentally alter perceptions of the president or the ruling party.”
By region, President Lee’s approval rating was 80% in Honam, 61% in Chungcheong, 59% in Incheon and Gyeonggi, 55% in Seoul, and 50% in Busan, Ulsan, and Gyeongnam. It stood at 33% in Daegu and Gyeongbuk.
By age, approval was highest among those in their 40s (75%) and 50s (74%), followed by 50% in their 60s, 49% over 70, 49% in their 30s, and 34% in their 10s and 20s. Among those in their 10s and 20s, negative evaluations (46%) outpaced positive ones (34%), a reversal from last week’s 45% positive and 39% negative.
The Democratic Party of Korea’s approval rating rose 4 percentage points to 43%, while the People Power Party remained unchanged at 25%. Rebuilding Korea Party had 3%, Reform Party 2%, Progressive Party 1%, other parties 1%, and independents 25%.
The Democratic Party’s regional ratings were highest in Honam (67%), followed by Chungcheong (51%), Incheon and Gyeonggi (45%), Seoul (41%), Busan, Ulsan, and Gyeongnam (34%), and Daegu and Gyeongbuk (20%). The People Power Party’s ratings were highest in Daegu and Gyeongbuk (43%), followed by Busan, Ulsan, and Gyeongnam and Chungcheong (29% each), Incheon and Gyeonggi (22%), Seoul (20%), and Honam (11%).
By age, the Democratic Party’s approval was 60% among those in their 50s, 57% in their 40s, 41% in their 60s, 37% over 70 and in their 30s, and 20% in their 10s and 20s. The People Power Party’s ratings were 38% among those in their 60s, 36% over 70, 29% in their 10s and 20s, 22% in their 30s, 15% in their 50s, and 11% in their 40s.
The survey was conducted via wireless phone interviews with 1,000 adults nationwide from the 21st to the 23rd. The response rate was 12.3%, with a 95% confidence level and a margin of error of ±3.1 percentage points. For details, visit the National Election Survey Deliberation Commission’s website.