• 06:20
  • 19.01.2021
Moon's approval down amid currency dispute
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19.01.2021

Moon's approval down amid currency dispute

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A new poll shows Korean President Moon Jae-in's approval rating has dropped slightly amid controversy over the possible shutdown of cryptocurrency exchanges.

In a survey conducted by Realmeter, 70.6 per cent of respondents said the president was doing a good job in managing state affairs, down one percentage point from a week earlier.

The weekly survey was conducted Monday through Friday on 2,510 adults throughout the nation with margin of error of two percentage points.
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The on-week drop may be attributable to the dispute over a government move to regulate virtual currencies.

The average price of cryptocurrencies was said to have plunged over 20 per cent after Justice Minister Park Sang-ki hinted at completely shutting down local exchanges on Thursday.

Only a few hours later, the presidential office Cheong Wa Dae said the government had not yet made a final decision after thousands of people, some of them investors, rushed to its website to sign petitions opposing a possible shutdown of cryptocurrency exchanges.
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As of Sunday, one such petition had more than 180,000 signatories, close to the threshold of 200,000 that would require Cheong Wa Dae to produce an official response.

In a separate survey conducted on Friday, 42.5 per cent of 504 respondents said they were in favour of shutting down the exchanges, while 47.7 per cent said they were opposed, according to Realmeter.

Earlier reports suggested up to three million South Koreans may have invested in cryptocurrencies, with the local market believed to account for nearly one-quarter of the global market in terms of transactions.
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Meanwhile, the weekly survey on Moon's performance showed the ruling Democratic Party's approval rating gaining 0.7 percentage point to increase to 51.6 per cent last week, while that of the main opposition

Liberty Korea Party slipped 1.7 points to 16.9 per cent.

The progressive Justice Party's approval rating came to 5.7 per cent, up 0.7 percentage point, with the splinter Bareun Party's rating losing 0.7 point to 5.3 per cent.
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The liberal People's Party's rating remained unchanged at 5.1 per cent.
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