CEO Morning Brief

South Korea’s Opposition Files Second Motion to Impeach Yoon

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Publish date: Fri, 13 Dec 2024, 10:13 AM
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TheEdge CEO Morning Brief
A news broadcast of Yoon Suk Yeol's public address at Seoul Station on Thursday.

(Dec 12): South Korea’s opposition filed a second impeachment motion against President Yoon Suk Yeol on Thursday, with the likelihood of its passage increasing as more ruling party members indicate they will support it.

The motion was filed after Yoon made a defiant speech earlier in the day in which he tried to justify his shock martial law declaration last week and insisted he would fight any case against him.

The Democratic Party needs to secure 200 votes in parliament to pass the motion. An attempt to impeach him last Saturday failed to reach that threshold after Yoon’s People Power Party (PPP) boycotted the vote.

Banners calling for the impeachment of President Yoon Suk Yeol outside the National Assembly on Dec 10. South Korea’s opposition filed a second impeachment motion against Yoon with more ruling party members having indicated they will support the motion.

The won was largely unchanged after the widely expected filing, down 0.2% against the dollar.

The opposition requires at least eight ruling party votes to pass the motion. So far, seven members have hinted that they would support moves to impeach Yoon.

In another indication that the vote has more chance of success this time around, PPP leader Han Dong-hoon earlier in the day described impeachment as the only way to remove Yoon.

After Yoon’s speech, Han called on ruling party members to proceed swiftly to suspend the president.

The president is fighting to stay in his role after his brief declaration of martial law last week stunned the nation and its allies. The shock move sparked political chaos, spooked financial markets and fueled public outrage.

A successful motion would result in a Constitutional Court case lasting up to 180 days. If the court rules against Yoon, he would be forced out of office and a presidential election called within two months.

Uploaded by Felyx Teoh

Source: TheEdge - 13 Dec 2024

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