Korea's economy is booming. Why isn't President Lee's popularity?
On paper, Korea's economy looks strong. Fueled by a semiconductor export boom, the country's annual exports are projected to top $1 trillion for the first time this year, making Korea only the fourth country to reach the milestone, after the United States, China and Germany. Forecasts from eight major investment banks put Korea's real gross domestic product growth at an average of 3.5 percent this year, with some expecting growth as high as 4 percent. Per capita gross national income is also expected to surpass $40,000 for the first time, potentially placing Korea sixth in the world by that measure. By those numbers, President Lee Jae Myung's approval ratings should be soaring. The economy, after all, is widely regarded as one of the biggest drivers of presidential popularity. Yet that is far from the case. A Realmeter survey of 2,528 adults nationwide, conducted from Nov. 2 to Friday for the Asia Business Daily, put Lee's approval rating at just 35.9 percent. His ratings have hovered between the high 30s and low 40s since October, a sharp decline from 67 percent seven months earlier. More
