SOUTH KOREA: Opposition Put Forward Motion For 2nd Impeachment Vote On 14 Dec

Six opposition parties have officially submitted a second impeachment motion against President Yoon Suk-yeol to the National Assembly's Legislative Affairs Department. The motion will be reported to the National Assembly's plenary session on 13 December, setting up for a second impeachment vote at  ~1700 local time (0300ET, 0800GMT) on 14 December. The previous impeachment vote on 7 December failed due to the lack of a quorum in the National Assembly after a large majority of lawmakers from the conservative People Power Party (PPP) left the chamber. 

• The second impeachment motion comes hours after Yoon delivered an address to the nation in which he refused to apologise for the imposition of martial law in early Dec that sparked the current political crisis. Yoon claimed "I will stand firm whether I'm impeached or investigated, I will fight to the end". Yoon called the use of martial law an "act of governance" that was “...an attempt to protect the liberal democracy and constitutional order [...] against the parliamentary dictatorship of the giant opposition party..."
• PPP leader Han Dong-hoon has called on his party's lawmakers to back the impeachment vote against their president (Yoon ran on the PPP ticket in the 2022 presidential election). Newly elected PPP floor leader Kweon Seong-dong has said he will get the party ready for “a presidential election that could possibly be held soon”, hinting that he may anticipate passage of the impeachment vote.
• Political betting markets assign a 90% implied probability that Yoon is impeached in 2024, up from a low of 18% in the hours after the 7 Dec impeachment vote. 

Chart 1. Betting Market Implied Probability President Yoon Suk-yeol is Impeached by the National Assembly in 2024, %