South Korean President’s Political Honeymoon Cut Short

Approval rating in free fall . . .

South Korean president Yoon Seok-yeol has suffered a steep drop in approval since taking office in May, bottoming out at around 30 per cent last week. Notably, there was more disapproval than approval in major strongholds of his People Power Party (PPP). Respondents attributed dissatisfaction to perceived nepotism in Yoon’s recent political appointments and a spiralling cost-of-living crisis. Year-on-year inflation hit six per cent in June, the highest since the 1998 Asian Financial Crisis. Food, fuel, and housing costs have skyrocketed in recent months, precipitating a spike in labour actions and strikes across key sectors.

Gridlock and scandal . . .

Yoon’s options for addressing the root causes of his tanking popularity are limited. In the National Assembly, where the opposition retains a majority, fierce gridlock between the two parties stalled parliamentary work for almost a month. Measures for solving the cost-of-living crisis are only now being introduced. But Yoon’s greatest challenge could be an internal party scandal. Earlier this month, an ethics committee suspended PPP chairman Lee Jun-seok for six months after allegations emerged that he had received bribes in the form of sexual services. Prominent PPP members are split on whether to reinstate or oust the controversial yet popular Lee. President Yoon, who has a turbulent history with Lee, has yet to comment on the matter.

Settling old scores, opening new doors . . .

Yoon has adopted a response strategy similar to previous embattled presidents: shift the focus to foreign policy and the misdeeds of the preceding president. His administration has launched investigations into alleged abuses of power by the administration of his predecessor, Moon Jae-in, specifically related to its more conciliatory approach to inter-Korean relations. The two most prominent allegations are the forced repatriation of two North Korean fishermen in 2019, and the cover-up of the death of a South Korean official by North Korean troops in 2020. Although Yoon’s administration has been eager to distance itself rhetorically from Moon’s North Korea policies, there are some continuities. For example, despite vowing to respond militarily to North Korean provocations, the Unification Ministry also promised to uphold certain Moon-era commitments, place no pre-conditions on inter-Korean dialogue, and unveiled an ambitious plan for economic, cultural, and security engagement with the North.

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