Stock Market

South Korea’s ruling party to fight Yoon’s impeachment, defense minister resigns via Reuters

Written by Joyce Lee and Hyunjoo Jin

SEOUL (Reuters) – South Korea’s parliament tabled a motion on Thursday to impeach President Yoon Suk Yeol over botched attempts to impose martial law, with the defense minister accused of advising the move and ordering parliamentarians to resign.

Members of the opposition Democratic Party plan to vote in parliament to impeach Yoon at around 19:00 (1000 GMT) on Saturday, a party spokesperson told reporters.

Yoon’s ruling People Power Party is divided over the issue but said it will oppose impeachment as there are two years left for Yoon to take up a five-year term.

“The Yoon Suk Yeol government’s declaration of emergency martial law has caused great confusion and fear among our people,” Democratic Party lawmaker Kim Seung-won told a meeting of South Korea’s National Assembly held early Thursday.

The Democratic Party needs at least eight of the ruling party’s 108 lawmakers to support the bill for it to pass with a two-thirds majority in the 300-seat parliament.

Fighting for his political future, Yoon accepted the resignation of Defense Minister Kim Yong-hyun on Thursday and appointed his ambassador to Saudi Arabia, Choi Byung-hyuk, to replace him, Yoon’s office said.

Kim recommended Yoon to declare martial law on Tuesday night, according to a military official and a call to impeach Yoon by opposition members. Kim also ordered troops to be sent to parliament, Deputy Defense Minister Kim Seon-ho said, adding that he was unaware of the military order until Yoon announced it.

“I am very much against the mobilization of soldiers under martial law and I have expressed negative views about it,” he told Parliament on Thursday, apologizing and taking responsibility for failing to prevent it.

The declaration of martial law attempted to shut down political activity and shut down the media in Asia’s fourth-largest economy and a key US ally. It caused anger in the streets and concern among its international partners.

Japanese Prime Minister Shigeru Ishiba said that “Japan’s security situation may be fundamentally changed” due to Seoul’s instability and North Korea’s increasing military strength.

“What will happen in South Korea? There seems to be a lot of domestic criticism and opposition,” he told parliament on Thursday, adding that Yoon’s efforts to improve relations with Tokyo “must never be dismissed”.

There has been no reaction yet from North Korea on the drama in the South.

Secretary of State Antony Blinken told Reuters on Wednesday that the United States had not been notified in advance of Yoon’s announcement, while his deputy, Kurt Campbell, said Yoon had made a mistake.

Yoon was welcomed by Western leaders as a partner in the US-led effort to unite democracies against the rise of authoritarianism in China, Russia and elsewhere.

But he caused discomfort among South Koreans by calling his critics “dictator and anti-state communist forces”. In November, he denied wrongdoing in response to fraud allegations against him and his wife and has taken serious action against labor unions.

THE NIGHT OF THE CONTINUATION

The impeachment follows overnight chaos after Yoon declared martial law and soldiers tried to force their way into the National Assembly building in Seoul, but retreated when parliamentary aides sprayed them with fire extinguishers.

A military commander said he had no intention of carrying firearms into the public, while Kim, the deputy defense minister, said no ammunition had been issued to the soldiers.

“The people and assistants who were protecting the parliament protected us with their bodies. The people won, now it’s time to protect the people,” said Kim of the Democratic Party.

“We need to immediately stop President Yoon’s authority. He has committed an indelible, historic crime against the people, whose anxiety needs to be eased so that they can return to their daily lives”.

The martial law crisis hit global financial markets and South Korea’s benchmark index. Money dealers reported that the government allegedly intervened on Wednesday to keep the winnings stable.

Finance Minister Choi Sang-mok sent an urgent note to global financial regulators and credit rating agencies on Wednesday night saying the ministry was working to mitigate any negative impact from the political turmoil.

If the impeachment bill is passed, South Korea’s Constitutional Court will then decide whether to approve the proposal – a process that could take up to 180 days.

If Yoon is stopped from exercising power, Prime Minister Han Duck-soo will take over as leader.

If the embattled president resigns or is removed from office, new elections will be held within 60 days.

Yoon, a prosecutor by profession, won the most intense presidential election in South Korean history in 2022, riding a wave of discontent over economic policy, scandals and gender wars.

But his support ratings have hovered close to 20% for months and the opposition took almost two-thirds of the seats in parliament in April’s election.




Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button