South Korea’s new leader, Lee Jae-myung, began his presidency with a higher approval rating than his recent predecessors.
According to a Gallup Korea poll, Lee’s approval rating stood at 64%, higher than the 52% recorded for former President Yoon Suk Yeol when he first took office in 2022.
The survey found that 52% of respondents expect the country’s economic situation to improve over the next year, while only 25% believe it will worsen. This is the highest level of optimism about the economy in the past eight years.
Rising hopes for an economic recovery followed a decline in GDP in the first three months of this year amid domestic political turmoil, weak consumption, and falling exports.
Although the economy is probably performing better in the current quarter, Lee still needs to reach a trade deal with the Donald Trump administration to limit the future impact of tariffs on exports.