Moon's approval rate falls to record low

South Korean President Moon Jae-in's approval rate has dropped to a record low of 32 percent with only one year left of his term in office.

Gallup Korea released the results of a survey of 1,000 people conducted between Tuesday and Thursday.

Moon's approval rate stood at 32 percent, down 2 percentage points from the previous week and the lowest since he took office in May 2017.

Moon's disapproval rate was 58 percent. The disapproval rate exceeded the approval rate in all age groups -- including people in their 40s, who are considered to be Moon's strong supporters.

Among those who disapproved of the president, about 40 percent cited real estate policies. Soaring real estate prices and allegations of illegal land transactions by public officials are likely to have caused the decline in Moon's approval rate.

Next week, mayoral elections are scheduled in the South Korean capital of Seoul and the country's second largest city, Busan. They are regarded as an important precursor to the presidential election in March next year.

South Korean media say candidates from the ruling Democratic Party, which supports Moon, are facing a strong headwind.

Moon cast his ballot in early voting on Friday.