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SOUTH KOREA: PPP Leader States Yoon's Duties Need To Be Suspended

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News

Early Friday dealings leave South Korean asset markets slightly weaker. The Kospi was down near 2434 in latest dealings, off 0.30%. This is fresh lows back to mid Nov. While USD/KRW spot was near 1417, up a touch, but well below post martial law headlines. Sovereign bond yields are down a touch. 

  • Focus remains on Yoon's impeachment process. Headlines have crossed that one member of the ruling party supports the process. Recall that 8 are needed to vote with the 192 opposition party members to get a 200 out 300 assembly votes.
  • PPP leader Han also stated that Yoon's duties will need to be suspended soon (per BBG). This follows evidence that Yoon ordered the arrest of politicians during the martial law period, per Han (see this link). It will be a danger if Yoon remains as President, per Han.
  • Headlines have also crossed that the ruling party will hold an emergency meeting at 11am local time (so in around 40mins time). The above suggests that Yoon's time as President could draw to close soon, or at least see a meaningful dial back in his duties/responsibilities. 
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Early Friday dealings leave South Korean asset markets slightly weaker. The Kospi was down near 2434 in latest dealings, off 0.30%. This is fresh lows back to mid Nov. While USD/KRW spot was near 1417, up a touch, but well below post martial law headlines. Sovereign bond yields are down a touch. 

  • Focus remains on Yoon's impeachment process. Headlines have crossed that one member of the ruling party supports the process. Recall that 8 are needed to vote with the 192 opposition party members to get a 200 out 300 assembly votes.
  • PPP leader Han also stated that Yoon's duties will need to be suspended soon (per BBG). This follows evidence that Yoon ordered the arrest of politicians during the martial law period, per Han (see this link). It will be a danger if Yoon remains as President, per Han.
  • Headlines have also crossed that the ruling party will hold an emergency meeting at 11am local time (so in around 40mins time). The above suggests that Yoon's time as President could draw to close soon, or at least see a meaningful dial back in his duties/responsibilities.