Challenges greet President Lee upon return as approval sinks below 50 percent (KOR) Related Article This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

After his deal-filled trip to the United States and South America, President Lee Jae Myung must now confront falling approval ratings, market turmoil and backlash over his administration's legal reforms. President Lee Jae Myung returned home Monday from his tour of the United States and South America, but the news upon coming back to Korea was hardly welcoming. A Realmeter poll showed that 50.5 percent of respondents disapproved of his performance — the first time his negative rating has surpassed 50 percent since he took office. His approval rating also fell to a record low of 45.9 percent. During his seven-night, 11-day trip, the longest overseas tour of his presidency, Lee secured cooperation worth some $950 billion between Samsung Electronics, SK hynix and global technology giants, while also expanding agreements with Brazil, Chile and Argentina on critical minerals and energy supply chains. Yet there was little time for celebration. Just three hours after returning home, Lee convened a meeting to review the real estate and stock markets. The problems at home have reached a critical point, leaving little room to recover from the grueling diplomatic schedule. The housing and stock markets are showing unprecedented signs of instability. The benchmark Kospi plunged 22.19 percent in July, its steepest monthly decline since the 23.13 percent drop during the global financial crisis in October 2008. After surpassing 9,000 in June, the index at one point fell below 6,000. The introduction of single-stock leveraged exchange-traded funds has been cited as one factor behind the heightened volatility, and Kim Yong-beom, the presidential policy chief who spearheaded the measure, was sued on Monday on allegations including abuse of authority. The government has been seeking solutions to the housing crisis through a series of public debates, but Seoul apartments continue to experience a "triple rise," with sales prices, jeonse (lump-sum deposit) and monthly rents all climbing simultaneously. The tax reform announced on Monday, which focuses almost entirely on raising taxes, also risks creating further distortions. The ruling Democratic Party's public briefing on Monday on amendments to the Criminal Procedure Act was another case of putting the cart before the horse. The ruling party has pushed through sweeping changes to a criminal justice system that had remained in place for 72 years without sufficient deliberation and is now trying to sell the public on a supposedly "better" system. The backlash from victims and even some members of the ruling party underscores the deep divisions the legislation has created. President Lee must squarely face the reality that his government and ruling party are causing public anxiety and confusion, and make his position clear. Controversial proposals, including a constitutional amendment to allow presidential re-election and an expansion of grounds for dismissing criminal cases inserted into the procedural law, will not be put to rest without a clear stance from the president. With polls showing that more than 60 percent of the public opposes the criminal procedure amendments, the case for a presidential veto is growing stronger. This is the time for President Lee to demonstrate that he takes his constitutional duty to protect the safety and property of the people seriously. 부정평가 50% 넘은 날 귀국한 이 대통령에게 주어진 과제 이재명 대통령이 미국·남미 순방을 마치고 어제 귀국했지만 그를 마중한 건 달갑지 않은 소식이었다. 리얼미터의 여론조사에서 이 대통령의 국정수행 부정평가가 50.5%로 취임 이후 처음 50%를 넘겼다. 긍정 평가도 45.9%로 최저치였다. 취임 이후 가장 긴 7박11일의 순방에서 이 대통령은 삼성전자·SK하이닉스와 글로벌 빅테크의 1390조원대 협력을 연결하고 브라질·칠레·아르헨티나와 핵심 광물 및 에너지 공급망 협력을 확대하기로 하는 등의 성과를 거뒀다. 하지만 생색도 내지 못하고 귀국 3시간여 뒤 부동산·주식시장 점검 회의를 했다. 숨가쁜 외교 일정의 여독을 풀기에는 내치의 문제가 임계점에 도달한 상황이다. 부동산과 주식 시장은 말 그대로 '역대급'의 불안을 보이고 있다. 7월 한 달간 코스피는 2008년 10월 금융위기(-23.13%) 이후 최대 수준인 22.19% 하락했다. 6월에 9000을 넘겼던 지수가 한때 6000선 아래까지 밀렸다. 변동성 확대 원인으로 단일종목 레버리지 ETF 도입이 꼽혔고, 그것을 주도한 김용범 청와대 정책실장은 직권남용 등의 혐의로 어제 고발당했다. 국민 대토론회를 열어 부동산 정책 해법을 찾아나서고 있지만, 서울 아파트는 매매·...