South Korea has plunged into an escalating political crisis as Acting President Han Duck-soo was impeached less than two weeks after stepping into the role, following the impeachment of President Yoon Suk Yeol. The impeachment motion against Han, passed unanimously in a 192-0 vote by the National Assembly, marked an unprecedented move, further deepening the nation’s political turmoil.
Han’s suspension from office shifts leadership responsibilities to Deputy Prime Minister and Finance Minister Choi Sang-mok, who will now serve as both acting president and acting prime minister. However, this transition has been marred by legal and political disputes. The ruling People Power Party (PPP) contested the validity of Han’s impeachment vote, arguing that the quorum for impeachment required a two-thirds majority of 200 votes, which applies to presidents, not the simple majority of 151 votes used for Cabinet ministers.
The Fallout from Yoon’s Martial Law Declaration
The roots of this crisis lie in President Yoon Suk Yeol’s abrupt imposition of martial law on December 3, an act that triggered nationwide outrage and ultimately led to his impeachment on December 14. Yoon defended his decision as an act of governance, but critics accused him of undermining democracy. The Constitutional Court is now deliberating on Yoon’s impeachment, a process that could take up to 180 days. If the court upholds the motion, South Korea will face a snap election within 60 days to elect a new president.
Han’s impeachment compounds the instability, as the Democratic Party (DP) listed several reasons for their motion, including his refusal to appoint additional justices to the Constitutional Court and his alleged complicity in Yoon’s martial law declaration. The DP also criticized Han for refusing to promulgate two special counsel bills targeting Yoon and First Lady Kim Keon Hee.
Economic and Security Repercussions
The political upheaval has had immediate economic repercussions. The South Korean Won fell to its lowest point in nearly 16 years, trading at 1,472.22 against the U.S. dollar, while the Kospi index slid 1.02% during Friday’s session. Finance Minister and now Acting President Choi Sang-mok warned of the broader implications of this instability, citing potential damage to South Korea’s economic credibility, national security, and governance continuity.
“In a time of global trade wars and national emergencies, the absence of a control tower for state affairs would cause severe damage to our country’s credibility, economy, national security, and governance continuity,” Choi stated.
The International Monetary Fund (IMF) has projected a 2.5% growth rate for South Korea’s gross domestic product in 2024, alongside a 2.5% inflation rate. However, these projections may be at risk if political instability persists.
A Leadership Vacuum and Democratic Foundations
The dual impeachment of Yoon and Han has shaken the foundations of South Korea’s democratic success story. As Asia’s fourth-largest economy grapples with a leadership vacuum, opposition parties are vying to capitalize on the turmoil. The Democratic Party (DP), which spearheaded both impeachment motions, faces pressure to stabilize the political landscape while pushing for reforms.
The Constitutional Court’s eventual ruling on Yoon’s impeachment will be pivotal in determining the country’s political future. With at least six out of nine justices required to uphold the motion, the decision will shape South Korea’s governance. Choi’s tenure as acting president is expected to face challenges from the opposition-controlled National Assembly. The main opposition Democratic Party has urged Choi to promptly appoint three Constitutional Court justice nominees to deliberate on Yoon’s impeachment trial.
Meanwhile, the PPP’s protests underscore the deep divisions within the political sphere. The impeachment’s ripple effects are being felt across the nation, from weakening investor confidence to concerns over national security amid rising regional tensions.
South Korea’s path forward remains uncertain as it contends with the dual challenges of political instability and economic vulnerability. The leadership vacuum and ongoing investigations into Yoon’s martial law declaration pose significant hurdles to restoring governance and public trust.
Manbilas Singh is a talented writer and journalist who focuses on the finer details in every story and values integrity above everything. A self-proclaimed sleuth, he strives to expose the fine print behind seemingly mundane activities and aims to uncover the truth that is hidden from the general public. In his time away from work, he is a music aficionado and a nerd who revels in video & board games, books and Formula 1.
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