South Korea to complete 1997 financial crisis debt repayment

South Korean President Lee Jae-myung announced that the repayment of public funds used to resolve the 1997 IMF financial crisis is expected to be completed through next year's budget. This debt, which originated from restructuring the financial sector and supporting insolvent companies, is distinct from the IMF bailout loans that were fully repaid in 2001. The government plans to repay approximately 7.9 trillion won next year to finalize the 30-year process.

Simultaneously, President Lee's approval rating has reached a new low of 40%, according to a Gallup Korea poll. Negative sentiment has risen to 51%, driven primarily by dissatisfaction with real estate policies and recent controversies surrounding cabinet appointments. The poll noted a significant decline in support among voters in their 20s and specific regions, while the gap between the ruling Democratic Party and the opposition People Power Party has narrowed to 8 percentage points.