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SOUTH KOREA: Yoon Declares Martial Law To "Rebuild Free And Democratic Country"

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

South Korean President Yoon Suk Yeol has declared martial law in an unannounced press conference to "rebuild a free and democratic country," after declaring that the administration of government has been "paralysed" by the conduct of the opposition party, according to Reuters. 

  • Yoon said in a live address to the nation, per AFP: "To safeguard a liberal South Korea from the threats posed by North Korea's communist forces and to eliminate anti-state elements... I hereby declare emergency martial law."
  • Yonhap reports that opposition Democratic Party leader Lee Jae-myung said Yoon's declaration of martial law is "unconstitutional." 
  • Per Reuters, Lee said, "parliament will try to nullify Yoon's martial law but the military may try to arrest members of parliament," with Yonhap adding that "parliament entrance is blocked, lawmakers can't enter."
  • The announcement comes after 'wrangling' over the annual budget bill, with "the ruling People Power Party (PPP) insist[ing] on keeping the government's proposal, while the main opposition Democratic Party (DP) demanded a revision to increase the issuance of local currency vouchers," according to Yonhap.
  • PPP floor leader Rep. Choo Kyung-ho told reporters, prior to Yoon's announcement: "Without an apology from the Democratic Party and the withdrawal of the budget bill that was passed unilaterally, we will not agree to any kind of talks."
  • AP reports that, beyond budget disputes, Yoon "has also been dismissing calls for independent investigations into scandals involving his wife and top officials, drawing quick, strong rebukes from his political rivals."
  • AP adds: "The Democratic Party reportedly called an emergency meeting of its lawmakers following Yoon’s announcement."
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South Korean President Yoon Suk Yeol has declared martial law in an unannounced press conference to "rebuild a free and democratic country," after declaring that the administration of government has been "paralysed" by the conduct of the opposition party, according to Reuters. 

  • Yoon said in a live address to the nation, per AFP: "To safeguard a liberal South Korea from the threats posed by North Korea's communist forces and to eliminate anti-state elements... I hereby declare emergency martial law."
  • Yonhap reports that opposition Democratic Party leader Lee Jae-myung said Yoon's declaration of martial law is "unconstitutional." 
  • Per Reuters, Lee said, "parliament will try to nullify Yoon's martial law but the military may try to arrest members of parliament," with Yonhap adding that "parliament entrance is blocked, lawmakers can't enter."
  • The announcement comes after 'wrangling' over the annual budget bill, with "the ruling People Power Party (PPP) insist[ing] on keeping the government's proposal, while the main opposition Democratic Party (DP) demanded a revision to increase the issuance of local currency vouchers," according to Yonhap.
  • PPP floor leader Rep. Choo Kyung-ho told reporters, prior to Yoon's announcement: "Without an apology from the Democratic Party and the withdrawal of the budget bill that was passed unilaterally, we will not agree to any kind of talks."
  • AP reports that, beyond budget disputes, Yoon "has also been dismissing calls for independent investigations into scandals involving his wife and top officials, drawing quick, strong rebukes from his political rivals."
  • AP adds: "The Democratic Party reportedly called an emergency meeting of its lawmakers following Yoon’s announcement."