South Korean equities slid, and the won approached its weakest level since 2009 on Monday, following last week’s political turmoil when President Yoon Suk Yeol briefly declared emergency martial law.
President Yoon survived Saturday’s impeachment motion, but the Justice Ministry banned him from traveling overseas on Monday morning as investigations into his brief declaration of martial law begin.
Justice Ministry official Bae Sang-up told a parliamentary hearing that the president was prohibited from leaving the country following requests by police, prosecutors, and an anti-corruption agency.
AP News cited a senior National Police Agency officer who told reporters at a briefing that police can detain Yoon if conditions are satisfied.
Yoon’s martial law speech last Tuesday called parliament a “den of criminals” for “attempting to paralyze” the government, adding to eliminate “shameless North Korea followers and anti-state forces.”
The prospect of a prolonged constitutional crisis appears elevated as the main opposition party, already failing once, will likely push another impeachment vote against the president this week.
Making sense of the uncertainties over the…
Read the full article here