South Korea's President Yoon Suk Yeol Faces Impeachment After Short-Lived Martial Law Declaration
President Yoon Suk Yeol's brief martial law declaration ignites political chaos and calls for his impeachment, as markets react to instability.
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Overview
South Korean President Yoon Suk Yeol declared martial law briefly on December 3, 2024, citing threats from a pro-North Korean coalition, which led to public outcry and political backlash. This resulted in calls for his impeachment from the opposition parties and internal resignations within his administration. Yoon's martial law order, which lasted only six hours before being overturned by the National Assembly, spurred market instability, causing the won to drop to a two-year low. Yoon's actions are viewed as unconstitutional, with the opposition pushing for a vote on impeachment.
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