Lee Jae Myung’s Approval Falls to 44.5% as Kospi Slides Nearly 40% From June Peak
Updated
Updated · Financial Times · Aug 4
Lee Jae Myung’s Approval Falls to 44.5% as Kospi Slides Nearly 40% From June Peak
3 articles · Updated · Financial Times · Aug 4
Summary
44.5% — Lee Jae Myung’s approval rating fell near its lowest since taking office as retail investors blamed his administration for losses from last week’s tech-driven market sell-off.
Nearly 40% — the Kospi has dropped from its June peak, leaving thousands of investors facing margin calls after leveraged bets unraveled in one of the world’s most volatile AI-fueled markets.
$10bn flowed into newly approved single-stock leveraged ETFs within weeks of their late-May launch, and critics say the government fed the frenzy by expanding access to riskier products.
7.4 percentage points — support fell most among voters in their thirties, a group seen as heavily exposed because many used leverage while investing to build funds for housing.
15mn South Koreans now invest in stocks after Lee made market gains a signature goal, tying his political standing unusually closely to the Kospi ahead of the 2028 assembly election.