South Korea stock slide fuels retail panic as Lee Jae-myung’s approval rating falls for a second week

South Korean stocks extended their decline on July 29, with retail sentiment deteriorating sharply as losses mounted. On Daum, one of the country’s main stock discussion platforms, retail investors were described as being in a state of deep panic, with posts largely focused on regret over buying the dip and criticism of weak regulation. Yonhap News Agency separately reported that a poll released on July 27 showed President Lee Jae-myung’s approval rating had fallen for a second consecutive week, staying around 40%. Research firm Realmeter said the downward trend appeared to be continuing this week. According to Realmeter, the pressure came from a combination of negative economic factors and public backlash over property-related issues. The firm cited the stock market crash, controversy over Bundang mortgage loan sales, remarks about stronger property taxes, and policy clashes involving leveraged ETFs and supplemental investigative authority. The developments put market stress and political pressure side by side as the sell-off continued.