Political Turmoil Follows Impeachment of Yoon Suk Yeol

Following the impeachment of President Yoon Suk Yeol over an attempted martial law declaration, South Korea's acting president, Han Duck-soo, has initiated measures to stabilize financial markets and reassure international allies, including a call with US President Joe Biden. The opposition leader, Lee Jae-myung, has proposed a special council for cooperation between the government and parliament to manage the political crisis and has urged a swift ruling from the Constitutional Court on Yoon's impeachment. If Yoon is dismissed, a national election must occur within 60 days. Financial authorities have committed to using all necessary measures to support the economy amid ongoing market volatility. Initial market reactions have been positive, with the Kospi index rebounding after hitting 13-month lows, although uncertainty remains high in the political landscape. The overall situation reflects a delicate balance as leaders seek to navigate the implications of Yoon's impeachment while maintaining stability.