Opposition Promotes 'Yoon Failure Theory'... "Ruining South Korea's Economy"

Criticism Focused at Government in First On-Site High-Level Meeting of New Year
"Yoon Administration is Ruining South Korea's Economy"

[Asia Economy Reporter Park Jun-yi] The leadership of the Democratic Party of Korea launched a full-scale offensive against the Yoon Seok-yeol administration's failure in state affairs as the new year began. This move is interpreted as an effort to highlight President Yoon's responsibility for the recent crises the government faces in areas such as the economy and security, and to emphasize the 'incompetent government and ruling party.'

Lee Jae-myung, leader of the Democratic Party, pointed out in his opening remarks at the on-site Supreme Council meeting held at the Busan City Party on the 2nd, "Following last year's record worst trade deficit, public utility fee hikes for electricity, gas, buses, and subways are all being announced one after another," adding, "The livelihood economy is at a critical juncture." He continued, "What worries me more is whether the government is properly preparing countermeasures," and criticized, "They are recycling unrealistic goals and only inciting hatred that divides the people."

"Public utility fee hikes for electricity, gas, buses, and subways are all being announced one after another"

[Image source=Yonhap News]

On the same day, Park Hong-geun, floor leader, also criticized, "Although the new year should be full of excitement and hope, both companies and households are barely holding on at the edge of a cliff," adding, "Last year's trade deficit reached a record high of 47.2 billion dollars. If the performance deterioration of export companies, the core driving force, intensifies, financial tightening could greatly shake the financial market."

He then referred to President Yoon's New Year's address, saying, "It feels as if President Yoon is under a different sky alone, mocking the people twice with an utterly hollow New Year's speech," and added, "It was a New Year's address with no empathy, no responsibility, and no countermeasures, without a single word about people's livelihoods."

Supreme Council members also emphasized the current economic crisis and launched a full-scale offensive. Park Chan-dae, Supreme Council member, said, "Although a new year has begun, worries outweigh hope. Last year's consumer prices rose by 5.1%, the highest since the foreign exchange crisis," and urged, "The Yoon administration should stop wasting its capabilities on eliminating political opponents and political repression and devote all its efforts to overcoming the crisis." Seo Young-kyo, Supreme Council member, also pointed out, "The Yoon administration is ruining the South Korean people's economy," and said, "The president must properly fulfill the role of president."

On the same day, the leadership also strongly criticized the security theory contained in President Yoon's New Year's address. Lee Jae-myung said, "I warn again that North Korea gains nothing from threats and intimidation against our people," and added, "The government should not lead with a hardline response of 'an eye for an eye, a tooth for a tooth."

Floor leader Park also said, "Increasing tension only leads to war," and advised, "It is important to remember that winning without fighting is the goal, not reckless provocations that put the lives and safety of the people at risk."

Highlighting government and ruling party failures... Effective in lowering President Yoon's approval rating

The Democratic Party's theory of policy failure by the Yoon Seok-yeol administration is interpreted as a strategy aimed at reversing the recent upward trend in President Yoon's approval ratings.

On the same day, a public opinion poll showed that President Yoon Seok-yeol's approval rating for state affairs management fell for the first time in three weeks. Realmeter announced on the 2nd that in the 5th week of December survey, conducted from December 26 to 30 last year on 2,511 adults aged 18 and over nationwide at the request of Media Tribune, President Yoon's positive evaluation of state affairs management was 40.0%, and negative evaluation was 57.2%. The positive rating dropped by 1.2 percentage points compared to the previous survey, while the negative rating rose by 0.6 percentage points. The gap between positive and negative evaluations was 17.2 percentage points, outside the margin of error. 'Don't know' was 2.8%.

[Image source=Yonhap News]

President Yoon's approval rating for state affairs management had remained in the 30% range since June last year but began to rise following a strong response to the Cargo Solidarity strike, recovering to the 40% range in the 3rd week of December for the first time in 24 weeks.

Thanks to communication efforts during the year-end and New Year period, the state affairs approval rating was expected to rise to the mid-40% range in the last week of 2022, but Realmeter analyzed that recent North Korean provocations and President Yoon's remarks about 'certain punishment' and 'superior war readiness' heightened tensions with the North, causing the approval rating to decline.

The margin of error for this survey is ±2.0 percentage points at a 95% confidence level. The survey was conducted via automated phone calls with 97% mobile and 3% landline, with a response rate of 3.7%. For more details, please refer to the Central Election Poll Deliberation Commission website.

This content was produced with the assistance of AI translation services.