Seoul, Feb 16 (IANS) South Korean President Lee Jae Myung's approval rating rose to 56.5 per cent last week, a survey showed Monday, driven by the government's efforts to stabilise the property market. The rating was up 0.7 percentage point from the previous week, while the negative assessment fell 0.2 percentage point to 38.9 per cent, according to the survey by Realmeter, commissioned by a local business news outlet. Realmeter attributed the increase to Lee's ongoing push to curb home prices by ending an exemption from the heavy capital gains tax for owners of multiple homes and the stock market's rise, Yonhap News Agency reported. 

The survey was conducted on 1,009 adults from Monday to Friday last week and had a margin of error of plus or minus 2 percentage points, with a confidence level of 95 per cent. Earlier in the day, Lee continued his criticism of multiple-home ownership for investment purposes on his social media platform X. "It is clear that there are more negative effects than positive ones," he said of owning multiple homes. "That is why the government needs to remove unfair preferential treatment in terms of tax, finance and regulations," he said. "Regarding social problems, we need to make them take social responsibility and bear their fair share of the burden to a certain degree, and that is in line with common sense."

The remarks were the latest in a recent series of social media posts by Lee on his views on the heated property market. He has repeatedly pledged to stabilize the housing market, arguing that rising home prices are placing heavy burdens on young people and discouraging marriage and childbirths. On February 12, Lee called for efforts to stabilise the prices of food and daily necessities by monitoring unfair trade practices and addressing structural issues in the distribution process.

Lee made the remarks during a meeting with senior aides after visiting a traditional market in the central city of Chungju. "Many people remain concerned about prices and weak sales," Lee said during the meeting at Cheong Wa Dae. He instructed a newly launched interagency task force to prepare short-term measures to stabilise prices and closely monitor unfair practices, such as price rigging and monopolistic practices involving certain items.

"Preemptive steps are needed to address structural issues at each stage of the distribution process," he said. Lee also pointed to cases in which some companies allegedly resold import goods subject to reduced tariffs at higher-than-market prices, stressing that firm action should be taken if such practices are discovered.

In addition, he instructed a review of school uniform prices following reports that the average cost has approached 600,000 won (USD 417), noting that the current level appears much higher than when he served as mayor of Seongnam, south of Seoul, from 2014 to 2018. "With the back-to-school season approaching, the current school uniform prices need to be reviewed to determine whether they are appropriate," he said.

--IANS