 |
Photo = Yonhap news |
[Alpha Biz= Paul Lee] Public confidence in South Korea’s economic outlook has reached record levels, with optimism more than twice as high as pessimism, according to a nationwide poll released on June 27 by Gallup Korea.
The survey, conducted from June 24 to 26 among 1,004 adults aged 18 and older, found that 52% of respondents expect the economy to improve over the next 12 months, while only 25% believe it will worsen. This marks a 19 percentage point increase in optimism and a 9-point drop in pessimism compared to the previous month.
Notably, the gap in sentiment reflects sharp political divides. Among progressive respondents, 78% said they expect economic conditions to improve, while 50% of conservative respondents expressed a pessimistic view.
Gallup Korea noted that this is the highest level of economic optimism and the lowest level of pessimism since the monthly survey began in September 2017. When compared to broader historical economic sentiment trends, the agency described current optimism as "unusually high—comparable to the 1980s."
Sentiment has shifted dramatically in recent months. In December of last year, when former President Yoon Suk-yeol was impeached, only 16% of respondents were optimistic. That figure rose to 24% in April immediately after his removal from office and climbed to 33% in May during the presidential election period.
When asked about their household financial outlook for the coming year, 47% of respondents said conditions would remain about the same. 33% expected an improvement, while 17% anticipated a decline.
The poll results signal a significant turnaround in public confidence, potentially influenced by changes in political leadership and expectations for new economic policy directions.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
