Yoon of South Korea could be impeached following the martial law fiasco

On Wednesday, MPs in South Korea suggested that President Yoon Suk Yeol be impeached for his hasty declaration of martial law, which he later revoked following a bloody conflict between parliament and the army that hurt the nation’s reputation.

Late on Tuesday, Yoon imposed martial law in South Korea, a major ally of the United States and the country with the fourth-largest economy in Asia, in an effort to restrict media and political activity.

U.S. Secretary of State Antony Blinken told Reuters that Washington was not informed in advance of the decision and that he would be speaking with his South Korean colleague in the next few days.

When legislative aides sprayed them with fire extinguishers, armed forces who had forced their way into the Seoul National Assembly building retreated. Outside, demonstrators clashed with police as lawmakers rejected the martial law ruling.

Reminiscent of the large-scale candlelight demonstrations that resulted in the impeachment of former President Park Geun-hye in 2017, civic and labor organizations staged a candlelight vigil in downtown Seoul on Wednesday night, demanding Yoon’s resignation. After that, they marched to the White House.

With voting scheduled for Friday or Saturday, six opposition parties in South Korea filed a bill in parliament to remove Yoon, who had already been accused of having an oppressive style of leadership by both his rivals and his own party.

The law was to be formally introduced in a plenary session on Wednesday just after midnight (1500 GMT).

According to DP legislator Kim Yong-min, “we couldn’t ignore the illegal martial law,” she told reporters. “We can no longer let democracy collapse.”

The head of Yoon’s ruling People Power Party demanded the resignation of the whole cabinet and the dismissal of Defense Minister Kim Yong-hyun. According to the military ministry, Kim has offered to step down.

As a result of the crisis, which shook international financial markets, South Korea’s benchmark KOSPI index, or KS11, fell 1.4%, bringing its losses so far this year to almost 7% and making it the worst-performing major stock market in Asia.

Dealers reported possible South Korean involvement during overnight negotiations between Bank of Korea Governor Rhee Chang-yong and Finance Minister Choi Sang-mok, which left the won stable but around a two-year low.

Late on Wednesday, Choi wrote an urgent note to credit rating agencies and international financial leaders, stating that the market was operating normally and that the finance ministry was attempting to mitigate any negative effects of political unrest, according to a statement from the ministry.

NO PARTICULAR DANGERS

In a late Tuesday television address, Yoon stated that martial law was necessary to maintain the free constitutional order and defend the nation against pro-North Korean anti-state elements, but he did not name any particular threats.

Within hours, a proposal to lift martial law was unanimously approved by the South Korean parliament, which included 18 members of Yoon’s party and 190 of the 300 members.

Approximately six hours after declaring martial law, the president then revoked it.

Outside the National Assembly, demonstrators clapped and yelled. They chanted, “We won!” while one protester pounded a drum.

“There are opinions that it was too much to go to emergency martial law, and that we did not follow the procedures for emergency martial law, but it was done strictly within the constitutional framework,” a South Korean presidential official told Reuters over the phone.

North Korea has not yet responded to the turmoil in the South.

Western governments welcomed Yoon as a collaborator in the U.S.-led initiative to unite democracies against the rise of authoritarianism in China, Russia, and other places.

However, when his favor ratings declined, he incited fear among South Koreans by labeling his critics as “communist totalitarian and anti-state forces.” He has taken a tough stance on labor unions and denied any wrongdoing in November in response to accusations of influence-peddling against him and his spouse.

With the typical rush-hour traffic on the streets and in the trains, Seoul looked pretty much as usual on Wednesday.

However, the labor union for Hyundai Motors (005380.KS) opened a new tab and said that they will be holding strikes on Thursday and Friday. Additionally, some large businesses, such as Naver Corp (035420.KS) and LG Electronics Inc. (066570.KS), recommended its employees to work from home.

According to a large South Korean convenience shop chain that requested anonymity, sales of canned products, instant noodles, and bottled water had skyrocketed overnight.

According to Kim Byeong-in, 39, a resident of Seoul, “I’m deeply disturbed by this kind of situation, and I’m very concerned about the future of the country,” she told Reuters.

If more than two-thirds of lawmakers support it, the National Assembly has the authority to remove the president from office. After a trial, the constitutional court can confirm the motion if six of the nine judges vote in favor of it.

In the 300-member legislature, 108 seats are held by Yoon’s party.

“DODGED A BULLET”

Prime Minister Han Duck-soo would take over as leader until a new election was called within 60 days if Yoon resigned or was ousted from office.
For the first time since 1980, martial law was declared in South Korea. “South Korea as a nation dodged a bullet, but President Yoon may have shot himself in the foot,” said Danny Russel, vice president of the Asia Society Policy Institute in Washington.

Yoon’s move to revoke the martial law declaration was praised by Blinken.

“We continue to expect political disagreements to be resolved peacefully and in accordance with the rule of law,” he stated in a statement.
About 28,500 American troops are stationed in South Korea as a result of the Korean War, which lasted from 1950 to 1953.

Amid the wider diplomatic ramifications from the fiasco, planned defense negotiations and a combined military exercise between the two partners were delayed.
China’s Foreign Minister Wang Yi described the political situation in South Korea as a “internal matter.” Russia expressed worry about the “tragic” events that occurred in South Korea.

Riding a wave of dissatisfaction over economic policy, scandals, and gender wars, Yoon, a career prosecutor, managed to win the most competitive presidential election in South Korean history in 2022.

However, he has been unpopular; in an April election, the opposition won about two-thirds of the seats in parliament, and his popularity ratings have remained at about 20% for months.

Since South Korea became a republic in 1948, martial law has been proclaimed more than a dozen times. In order to quell aspirations for the return of democratic governance, a group of military commanders coerced then-President Choi Kyu-hah into declaring martial law in 1980.