SK President Moon's Approval Rating Recorded its All-time low

South Korean President Moon Jae-in's approval rating recorded its all-time low since he was put to office in 2017 of 34.1 percent in the newest 5- day survey conducted by South Korean pollster tracking research company Realmeter.

Analysts said that the dip was due to the negative effects of the massive real estate scandal, which involves some of the country's public officials, especially those who work for Korea Land and Housing Corp. (LH)

The five-day survey was conducted by Realmeter to 2,510 adults in the country on Friday.

The support for President Moon dropped by 3.6 percent week-to-week. Previously, the low percentage points were recorded at 35.5 percent during the first week of the month of January. Moreover, during the starting week of this year, it recorded its previous low at 29.3 percent.

Moreover, the number of people who disapproved of his presidency also jumped at 62.2 percentage points from 4.8 percent, the highest disapproval points recorded by the pollster's tracking research.

The approval rating of the sitting Democratic party, the president's political party, also dipped by 2 percent to its lowest at 28.1 percentage points since the launch of Moon's liberal administration, said the Realmeter.

On the other hand, the support of the public for the People Power Party (PPP), the administration's main opposition party, rose to 35.5 percent, 3.1 percentage points higher than the previous survey.

An official from the pollster tracking research said that the issue involving several Korea Land and Housing Corp. (LH) officials who allegedly bought properties around the capital, ahead of the government's announcements of its plan to develop a new residential town on the said place.

The survey's margin of error is plus or minus 2 percent, and the confidence level is 95 percent.

Moreover, in a separate poll conducted by the Independent Polling System of Society (IPSOS), it found that both candidates of Seoul mayoral by-election from opposition parties - Oh Se-hoon and Ahn Cheol-soo, are leading the administration's mayoral bet Park Young-sun by big margins.

Later last week, both candidates from opposition parties have agreed to have a unified candidate from the opposition bloc on the basis of conducting two independent public opinion surveys.