Page 2 - South Korea

South Korean President Yoon banned from foreign travel amid martial law row

On 5 December, President Yoon had dismissed Defence Minister Hyun and replaced him with Choi Byung Hyuk. The decision came after the main opposition party moved to impeach both

Asian shares dip on South Korea slump, busy week for central banks

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Donald Trump's EV skepticism threatens $54 billion in Korean investments

Trump has long criticised President Joe Biden's efforts to subsidize EVs through his landmark energy bill

Markets Today: S&P 500 & Nasdaq at record, FIIs, Property Share IPO listing

In the previous trading session, the benchmark indices ended their five-day winning streak in response to the RBI Monetary Policy Committee's decision to maintain the repo rate at 6.5 per cent

More turmoil in South Korea as prosecutor set to probe Prez Yoon: Report

"The president will not be involved in any state affairs including diplomacy before his exit," Han Dong-hoon

South Korean prosecutors detain ex-defence chief over imposing martial law

South Korean prosecutors on Sunday detained a former defence minister who allegedly recommended last week's brief but stunning martial law imposition to President Yoon Suk Yeol, making him the first figure detained over the case, news reports said. The reported development came a day after Yoon avoided an opposition-led bid to impeach him in parliament, with most ruling party lawmakers boycotting a floor vote to prevent the two-thirds majority needed to suspend his presidential powers. The main liberal opposition Democratic Party said it will prepare a new impeachment motion against Yoon. On Sunday, ex-Defence Minister Kim Yong Hyun voluntarily appeared at a Seoul prosecutors' office, where he had his mobile phone confiscated and was detained, Yonhap news agency reported. Other South Korean media carried similar reports, saying Kim was moved to a Seoul detention centre. The reports said police were searching Kim's former office and residence on Sunday. Repeated calls to the Seoul

South Korean Prez Yoon's impeachment fails as ruling party boycotts vote

A South Korean legislative push to impeach President Yoon Suk Yeol over his short-lived imposition of martial law fell through on Saturday after most lawmakers from his conservative governing party boycotted the vote. The defeat of the motion is expected to intensify public protests calling for Yoon's ouster and deepen political chaos in South Korea, with a survey suggesting a majority of South Koreans support the president's impeachment. Yoon's martial law declaration drew criticism from his own ruling conservative party, but it is also determined to oppose Yoon's impeachment apparently because it fears losing the presidency to liberals. Impeaching Yoon required support from two-thirds of the National Assembly, or 200 of its 300 members. The opposition parties who brought the impeachment motion had 192 seats, but only three lawmakers from PPP participated in the vote. The motion was scrapped without ballot counting because the number of votes didn't reach 200. National Assembly ..

S Korean lawmakers to decide whether to impeach Prez over martial law bid

South Korean lawmakers on Saturday began meeting to vote on whether to impeach President Yoon Suk Yeol over his short-lived attempt to impose martial law, as protests grew nationwide calling for his removal. They gathered in the National Assembly hours after Yoon issued a public apology over the move, saying he won't shirk legal or political responsibility for the declaration and promising not to make another attempt to impose martial law. In a brief televised address, Yoon said he would leave it to his party to chart a course through the country's political turmoil, including matters related to my term in office." The declaration of this martial law was made out of my desperation. But in the course of its implementation, it caused anxiety and inconveniences to the public. I feel very sorry over that and truly apologize to the people who must have been shocked a lot, Yoon said. Since taking office in 2022, Yoon, a conservative, has struggled to push his agenda through an ...

South Korea's Prez apologises, vows accountability for martial law attempt

South Korea's president apologised on Saturday for public anxiety caused by his short-lived attempt to impose martial law earlier this week, and said he would leave it to his conservative political party to chart a course through the turmoil left in its aftermath including matters related to my term in office", hours ahead of a parliamentary vote on impeaching him. Yoon said in a brief televised address on Saturday morning he won't shirk legal or political responsibility for the declaration and promised not to make another attempt to impose it, adding that he's truly sorry for causing public anxiety and inconvenience with his declaration of martial law earlier this week. South Korean lawmakers are set to vote later Saturday on impeaching President Yoon Suk Yeol over his short-lived attempt to impose martial law, as protests grew nationwide calling for his removal. It wasn't immediately clear whether the motion submitted by opposition lawmakers would get the two-thirds majority ...

All you need to know about martial law, effort to impeach S Korea's prez

South Korean President Yoon Suk Yeol is facing possible impeachment for sending heavily armed soldiers into Seoul's streets with a baffling declaration of martial law that reminded many of the country's past military-backed dictatorships. Lawmakers began impeachment proceedings against Yoon just hours after parliament unanimously voted to cancel martial law, forcing the president to lift his order about six hours after it began. Opposition parties are pushing for a vote on Saturday on the impeachment motion, which needs support from two-thirds of the National Assembly to advance to the Constitutional Court, which would decide whether to remove Yoon from office. In a surprising turnaround, the head of Yoon's governing party expressed support for suspending the president's powers, making Yoon's impeachment more likely. Here's what to know about the situation: Will Yoon be impeached? Opposition parties are pushing for a parliamentary vote on Yoon's impeachment on Saturday, calling hi

South Korea's ruling party head supports suspending Prez Yoon's powers

South Korea's ruling party chief showed support Friday for suspending the constitutional powers of President Yoon Suk Yeol for imposing martial law, in a bombshell reversal that makes Yoon's impeachment more likely. People Power Party leader Han Dong-hun said he had received intelligence that Yoon had ordered the country's defense counterintelligence commander to arrest and detain unspecified key politicians based on accusations of anti-state activities during martial law. Han on Thursday had said he would work to defeat the impeachment motion even though he criticized Yoon's martial law declaration as unconstitutional. Han said there was a need to prevent damage to citizens and supporters caused by unprepared chaos. Han said Friday that Yoon poses a significant risk of extreme actions, like reattempting to impose martial law, which could potentially put the Republic of Korea and its citizens in great danger. Impeaching Yoon would require support from two-thirds of the National ...

Political turmoil unlikely to impact Korea's trade with India for now

During the first six months of the current financial year, India exported goods worth $2.87 billion to South Korea, while imports stood at $10.62 billion

South Korea's Prez replaces defence chief as parliament set to impeach him

South Korea's president accepted the resignation of his defense minister Thursday as opposition parties moved to impeach both men over the stunning yet short-lived imposition of martial law that brought armed troops into Seoul streets. The main opposition Democratic Party and other small opposition parties submitted a joint motion to impeach President Yoon Suk Yeol on Wednesday over his martial law declaration the previous night. Martial law lasted about six hours, as the National Assembly quickly voted to overrule the president, forcing his Cabinet to lift it before daybreak Wednesday. On Thursday, Yoon replaced Defense Minister Kim Yong Hyun with Choi Byung Hyuk, a retired four-star general who is South Korea's ambassador to Saudi Arabia, Yoon's office said. It didn't provide any further comments by Yoon. He hasn't made any public appearances since he announced in a televised address that his government was lifting the martial law declaration. The opposition parties earlier ...

How South Korea's constitution empowered Parliament to overturn martial law

Article 77 of South Korea's Constitution grants the president the authority to impose martial law during severe national emergencies. But lawmakers can repeal it through a parliamentary vote

Wall Street stocks up, dollar steady amid turmoil in South Korea, France

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Explained: South Korea in turmoil as President Yoon faces backlash over martial law attempt

South Korea's opposition files impeachment motion against President Yoon

South Korea's opposition parties Wednesday submitted a motion to impeach President Yoon Suk Yeol over the shocking and short-lived martial law that drew heavily armed troops to encircle parliament before lawmakers climbed walls to reenter the building and unanimously voted to lift his order. Impeaching Yoon would require the support of two-thirds of parliament, and at least six justices of the nine-member Constitutional Court would have to endorse it to remove him from office. The motion, submitted jointly by the main liberal opposition Democratic Party and five smaller opposition parties, could be put to a vote as early as Friday. Yoon's senior policy advisers and Defense Minster Kim Yong Hyun offered to resign as the nation struggles to make sense of what appeared to be a poorly-thought-out stunt. The Democratic Party on Wednesday submitted a separate motion to impeach Kim, who it alleged recommended the martial law declaration to Yoon. In his speech announcing the abrupt order .

South Korea faces global backlash after President Yoon's martial law decree

The martial law declaration cast doubts over a possible visit next week by the U.S. defense secretary. Japanese media reported he was due to meet South Korean and Japanese counterparts as part

South Korea's martial law saga: From Rhee to Yoon, a legacy of power crises

Declaring martial law during crises or to assert political control has a history in South Korea, used repeatedly by successive regimes over the years

South Korea's presidential history: Martial law, coups, and corruption

South Korea declares martial law: The troubled history of its presidents reveals a legacy of authoritarian regimes, political turmoil, and the transition to democracy