The High Cost of South Korea’s Short-Lived Martial Law
Even as South Korea was plunged into political turmoil following the president’s short-lived declaration of martial law, financial markets have remained calm. But the country still has months of political uncertainty ahead, leaving it in a weak position to respond to US policy changes when President-elect Donald Trump takes office.
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SEOUL – When South Korean President Yoon Suk-yeol abruptly declared martial law late on December 3, claiming that it was necessary to enable him to eliminate “anti-state” forces, street protests erupted almost immediately. By the time dawn broke, the National Assembly had unanimously passed a resolution to rescind Yoon’s declaration. Yoon has since been impeached, and the constitutional court has initiated trial proceedings. But many still do not understand why Yoon declared martial law in the first place.