South Korean President Lee Jae Myung has seen a rise in his popularity after finalizing a major trade deal with the United States.
According to a recent Realmeter survey released Monday, Lee's approval rating climbed to 63.3%, up from 61.5% last week.
This boost follows the announcement of a trade agreement on July 31 that sets tariffs on most South Korean exports to the US at 15%, aligning them with rates for Japan and making them among the lowest in Asia.
The tariff deal came just hours before a US-imposed deadline on August 1, when South Korean exports were at risk of facing a 25% tariff.
According to Bloomberg, the negotiations were a key diplomatic challenge for Lee early in his presidency, which began in June amid political turbulence, including the removal of his predecessor, Yoon Suk Yeol.
The agreement is seen as a win that helps ease tensions between the two countries.
The trade deal also includes a commitment by South Korea to invest $350 billion in the US, announced by former President Donald Trump hours before the tariff deadline.
South Korean President Lee Jae Myung’s popularity rose after a last-minute trade deal with the US, which set tariffs on most Korean exports at 15%, on par with regional rival Japan and among the lowest in Asia. https://t.co/Gv3lslDYs7
— Bloomberg (@business) August 4, 2025
Over 110,000 Oppose Capital Gains Tax Reform in South Korea
Trump shared the news on his social media platform, Truth Social, saying, "The Deal is that South Korea will give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President."
He added that South Korea would purchase $100 billion worth of LNG and other energy products, NY Post said.
Lee faces ongoing challenges as details of the investment fund and other parts of the deal are worked out.
The president may also come under pressure from Washington to increase defense spending and contributions for hosting US troops in South Korea ahead of a planned summit.
Domestically, Lee must manage economic concerns following his government's proposal to raise taxes on investors and companies, which stalled a recent surge in South Korean stock markets.
Over 110,000 people have signed a petition opposing the capital gains tax changes, potentially creating friction for Lee's administration.
Despite these challenges, the trade agreement strengthens South Korea's economic ties with the US and helps stabilize Lee's early presidency.
Trump highlighted the partnership by stating South Korea will be "completely OPEN TO TRADE with the United States" and accept American products such as cars, trucks, and agricultural goods.
This new deal replaces the 2012 free trade agreement that had removed most tariffs between the two countries.
With the tariff deadline averted and the $350 billion investment pledged, Lee Jae Myung has gained valuable support from voters who see the agreement as a positive step for South Korea's economy and international standing.
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