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SOUTH KOREA: Political Crisis In Republic Of Korea Set To Deepen

SOUTH KOREA
EM BulletHomepagemarkets-real-timeAPACPolitical RiskPolitical Risk BulletSouth KoreaBulletEmerging Market News

The political crisis in The Republic of Korea could deepen, with the opposition Democratic Party (DPK), which holds a majority in parliament, to decide on impeaching acting President Han Duck-soo later this week.

  • The pending DPK decision comes as the Constitutional Court deliberates on the impeachment of President Yoon Suk-yeol. If the court upholds parliament’s impeachment, South Korea could go to the polls within 60 days to vote for a new leader. 
  • The Diplomat notes: “Yoon’s potential ousting would pave a strong path for a left-wing resurgence to the presidency. Recent history points in that direction,” however Democratic Party leader Lee Jae-myung’s separate legal issues related to charges of election violation and bribery could complicate a liberal resurgence, despite a strong polling lead. 
  • DPK floor leader Park Chan-dae told a party meeting today: “We’ve clearly warned that it’s totally up to [Han] whether he would go down in history as a disgraceful figure as a puppet of rebellion plot leader Yoon Suk Yeol or a public servant that has faithfully carried out the orders by the public,”
  • AP notes that the Democratic Party gave Han a Tuesday deadline to approve bills appointing independent investigators in Yoon’s decision to declare martial law. The Party also, “urged Han to quickly appoint justices to vacant seats on the Constitutional Court… Filling the Constitutional Court’s three empty posts could make [Yoon's] conviction more likely, as it requires the support of six of the court’s possible full nine members.”
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The political crisis in The Republic of Korea could deepen, with the opposition Democratic Party (DPK), which holds a majority in parliament, to decide on impeaching acting President Han Duck-soo later this week.

  • The pending DPK decision comes as the Constitutional Court deliberates on the impeachment of President Yoon Suk-yeol. If the court upholds parliament’s impeachment, South Korea could go to the polls within 60 days to vote for a new leader. 
  • The Diplomat notes: “Yoon’s potential ousting would pave a strong path for a left-wing resurgence to the presidency. Recent history points in that direction,” however Democratic Party leader Lee Jae-myung’s separate legal issues related to charges of election violation and bribery could complicate a liberal resurgence, despite a strong polling lead. 
  • DPK floor leader Park Chan-dae told a party meeting today: “We’ve clearly warned that it’s totally up to [Han] whether he would go down in history as a disgraceful figure as a puppet of rebellion plot leader Yoon Suk Yeol or a public servant that has faithfully carried out the orders by the public,”
  • AP notes that the Democratic Party gave Han a Tuesday deadline to approve bills appointing independent investigators in Yoon’s decision to declare martial law. The Party also, “urged Han to quickly appoint justices to vacant seats on the Constitutional Court… Filling the Constitutional Court’s three empty posts could make [Yoon's] conviction more likely, as it requires the support of six of the court’s possible full nine members.”