SEOUL, SOUTH KOREA – NOVEMBER 7: South Korean President Yoon Seok-yeol attends the state press conference at the Blue House on November 7, 2024.
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South Korea’s embattled President Yoon Seok-yeol on Saturday tried unsuccessfully to impose martial law earlier this week after his ruling party boycotted the vote, triggering an impeachment motion, South Korea’s Yonhap news agency reported.
The motion, proposed by opposition politicians including the main Democratic Party, requires the support of two-thirds of South Korea’s 300 lawmakers to pass. Confederate lawmakers walked out before Saturday’s vote, preventing a quorum needed for an impeachment vote.
Opposition members have previously said they would revisit the impeachment measure on Wednesday if it fails the first time.
If successful, the motion would immediately strip Mr Yoon of his presidential powers. If the current president is dismissed or resigns, a presidential election must be held within 60 days.
A second special prosecutor bill to investigate first lady Kim Gun-hee, who was recently accused of improper influence, failed to pass a vote on Saturday, Reuters reported.
South Korea is no stranger to such proceedings, having impeached two heads of state since the turn of the century: Roh Moo-hyun in 2004 and Park Geun-hye in 2016.
martial law
Mr Yin takes power in election Close presidential race In 2022, support will be only 19% Earlier this week, the United States unexpectedly activated martial law for the first time since a 1979 military coup.
He pointed out the need to “protect the constitutional order based on freedom and root out the shameful pro-North Korea and anti-state groups who are stealing the freedom and happiness of our people.” According to NBC News.
With 190 MPs present and protesters taking to the streets, the country’s parliament passed a resolution to lift martial law – a political whiplash flow into the market Asia’s fourth largest economy. Korea Financial Services Commission explain South Korea stands ready to deploy a total of KRW 50 trillion (USD 35.22 billion) to stabilize domestic stock and bond markets if necessary amid volatile conditions.
Adarsh ​​Sinha, co-head of Asia rates and FX strategy at BofA Securities, warned on CNBC’s “Street Signs Asia” on Friday that the South Korean won could see “significant moves” following the weekend vote, but stressed that the currency There was also downward pressure.
“I think, overall, our view on the Korean won is bearish, not for political reasons,” he said.
second try
Looking back at South Korea’s past military rule, the brief martial law fiasco paralyzed domestic politics and raised international concerns about one of Asia’s most powerful democracies.
Han Dong-hoon, leader of the ruling People’s Power Party, called for Yoon to be suspended, expressing concern that the president might take “radical” action again, such as reimposing martial law. According to Yonhap News Agency.
New acting Defense Minister Kim Sun-ho took over on Thursday after former Kim Yong-hyun resigned, Already said He would not obey such an order.
On Saturday, Mr Yoon made his first public appearance since Tuesday’s incident, pledging not to try to invoke martial law again.
“I am sincerely sorry and apologize to those who must have been very surprised,” Yoon said in a televised public speech, according to Yonhap News Agency. “I will not evade the legal and political responsibilities related to this martial law.”
