South Korean President Lee Jae Myung faces record low approval ratings

South Korean President Lee Jae Myung is facing a significant political crisis as his approval ratings have dropped to a record low of approximately 36.5% to 37%. Recent polling indicates widespread public discontent across various demographics, including a notable decline in support within the Honam region, traditionally a stronghold for the pro-government camp.

Key drivers of this dissatisfaction include soaring apartment prices in Seoul, which have risen for 86 consecutive weeks, and controversial cabinet appointments. Despite a recent public apology and a 100-minute press conference intended to restore trust, the administration's popularity continues to wane.

In the opposition, the political landscape is shifting. Independent candidate Han Dong-hoon has gained momentum among right-leaning voters, emerging as a potential disruptor. Meanwhile, conservative leader Jang Dong-hyuk is struggling with low approval ratings of 21%, and Seoul Mayor Oh Se-hoon faces legal challenges that may impact his political future.