The 64% Approval Shock: What Gallup Korea and Realmeter Simultaneously Proved About President Lee Jae-myung's Economic Premium
In the last week of February 2026, Realmeter (58.2%, up for 4 consecutive weeks) and Gallup Korea (64%, a 6-month high) released simultaneous results. Both polls cited the KOSPI rally, real estate normalization, and price stability as the main drivers of the increase.
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Why you should pay attention right now: Two major polls were released on the same day, and both recorded approval ratings near historic highs. More important than the numbers is what drove them up.
TL;DR
- Realmeter (Feb 19–20, n=1,000): President Lee Jae-myung's job approval at 58.2%, rising for 4 consecutive weeks
- Gallup Korea (Feb 24–26, n=1,000): 64%, the highest in the past 6 months
- Both firms cited KOSPI surge, real estate normalization, and price stability as the key drivers
- The gap between the ruling Democratic Party (43–48.6%) and the opposition PPP (22–32.6%) also widened
- 39% of Gallup respondents said the first-instance life sentence for former President Yoon Suk-yeol was "insufficient," revealing a complex public sentiment
The Facts: Numbers from Both Firms
Realmeter (commissioned by Energy Economy Daily, 3rd week of February)
- Job approval: Positive 58.2% / Negative 36.4% / Don't know 5.4%
- Slight increase week-on-week, 4 consecutive weeks of upward trend
- Party approval: Democratic Party 48.6%, PPP 32.6%
- KOSPI breaking the 5,800 level and a recovery in real estate transaction volume were cited as the main background
Gallup Korea (4th week of February, Feb 24–26)
- Job approval: Positive 64% / Negative 28%
- Highest in the past 6 months, approaching the post-inauguration peak
- Top reason for approval: Economic policy & stock market boom / 2nd: Real estate policy
- Top reason for disapproval: Personnel issues / 2nd: Lack of communication
- Democratic Party 43%, PPP 22%
Why the 'Economic Premium' Is Working Now
The KOSPI index crossed the 6,000 mark in February 2026 and continued an AI semiconductor rally, with Samsung Electronics' market cap approaching $1 trillion. This fueled expectations that the so-called 'Korea Discount' is being resolved.
In the real estate market, transaction volumes have recovered and lease prices have stabilized, improving the economic sentiment of the middle class. Combined with February's consumer price inflation holding within a stable range, the real purchasing power of salaried workers — often described as having 'glass wallets' — provided the foundation for rising approval.
In a political context, some positive assessment of the 'post-insurrection stabilization' phase following the first-instance life sentence for former President Yoon Suk-yeol (February 25) also appears to be reflected.
Context: What the Gap Between the Two Firms Means
There is approximately a 6 percentage point difference between Realmeter (58.2%) and Gallup Korea (64%). This stems from the difference in survey timing (Realmeter: Feb 19–20; Gallup: Feb 24–26) as well as differences in sampling design and weighting methodology.
Both figures are at or above the honeymoon approval level of the mid-60s from early in the term, making it rare in recent Korean political history to maintain this level of support within the first year of a presidency.
Warning signs for the opposition: The PPP is stuck in the 22–32.6% range. The prolonged emergency committee structure and internal party strife are cited as the main causes of declining support.
Outlook: How Long Can the Approval Surge Last?
| Variable | Positive Factors | Negative Factors |
|---|---|---|
| Stock Market | Continued AI semiconductor rally | Global uncertainty (Trump tariffs) |
| Real Estate | Transaction volume recovery | Latent PF (project financing) risk |
| Political Calendar | Post-insurrection stabilization phase | Special counsel outcome & second-trial risk |
| Foreign Affairs | President Lee's Southeast Asia tour results | Korea-US trade friction |
The by-election in March — a precursor to the local elections — and the outcome of the insurrection special counsel investigation are expected to be the key variables in future approval swings.
Checklist: What to Watch Next
Reference Links
- President Lee's Approval at 64%, 6-Month High — Kyunghyang Shinmun
- President Lee's Approval Rises for 4 Consecutive Weeks to 58.2% — Yonhap News
- President Lee's 58.2% Approval, 4 Consecutive Weeks of Rise — Maeil Labor News
- Lee 64%, Democratic Party 43%, PPP 22% — Chosun Ilbo
Image source: National Assembly of South Korea — Wikimedia Commons