South Korea's Constitutional Court Upholds Yoon Suk Yeol's Impeachment, Triggers Snap Election

The South Korean Constitutional Court has upheld the impeachment of President Yoon Suk Yeol, resulting in his removal from office and triggering a presidential election within 60 days. This decision follows Yoon's controversial imposition of martial law, deemed unconstitutional, which has significantly impacted the country's political landscape and consumer sentiment. The announcement was met with celebrations from Yoon's opponents, while his supporters expressed disappointment. In the wake of this political upheaval, the economy faces challenges, including trade tensions with the U.S. and high price pressures, raising concerns about consumer recovery. Prime Minister Han Duck-soo will serve as the acting president as the nation prepares for the upcoming election amidst ongoing geopolitical tensions. Historical parallels have been drawn to previous political crises, suggesting that the resolution of current political risks could influence consumer confidence moving forward.