A recent poll has revealed that President Lee Jae-myung's state affairs approval rating has fallen into the 30% range for the first time. According to the polling firm Chowon C&I, the president's positive evaluation reached 38.9%, breaking through the previous 40% support threshold. Meanwhile, negative evaluations have surged to 57.9%, indicating that disapproval of government policies and actions has significantly exceeded the halfway mark.

The core reasons for this cold turn in public sentiment are cited as the recent real estate issues and tax reforms. In particular, the market's fierce backlash against the real estate tax reform plan announced by the government on August 3rd, combined with controversies surrounding the President's personal property disposal, has shaken the foundation of public trust. Furthermore, the housing supply measures intended to aid young people's residential stability have been criticized as unrealistic, further accelerating the loss of support.

A noteworthy point is the internal fracturing of party-specific support bases. Even those who were previously supportive of the government are clearly withholding or withdrawing their support in the face of livelihood issues such as tax burdens and real estate price instability. It seems that immediate concerns like taxes and homeownership, which directly affect wallets, have become the primary drivers of these metrics, outweighing ideological identity.

Entering the 30% range in presidential approval ratings signifies more than just a statistical shift; it marks a sudden braking of the administration's core governing momentum. Whether the government's future supplementary tax and real estate measures can reverse the icy public sentiment or fail to stop further desertion will be the most significant variable in the future political landscape.

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