South Korea’s Acting President Han Duck-Soo Impeached as Yoon Faces Trial

South Korea’s parliament have impeached acting President Han Duck-soo on Friday, intensifying the political turmoil that began less than two weeks ago with the suspension of President Yoon Suk Yeol’s powers following his brief declaration of martial law.

The move has pushed South Korea into a deepening crisis, challenging its reputation as a stable democracy.

Han, who became acting president after Yoon’s impeachment on 14 December for enacting martial law on 3 December, was ousted in an unprecedented decision that has left the nation’s leadership in uncharted territory.

Finance Minister Choi Sang-mok has now stepped in as acting president while the Constitutional Court considers the impeachment cases of both Yoon and Han.

Choi convened the National Security Council, consulted military leaders, and pledged to stabilise state affairs.

“The government must do its best to ensure that the people do not become anxious, or the security of the country and people’s daily lives are not shaken,” he said, according to his office.

However, Choi’s position remains precarious, as the opposition-led parliament could also target him for removal.

The political upheaval, triggered by Yoon’s imposition of martial law, has rattled Asia’s fourth-largest economy and raised concerns among allies, including the US and European nations, who viewed Yoon as a key partner in addressing challenges posed by China, Russia, and North Korea.

The economic fallout has already begun. The Korean won fell by 0.5% to 1,477.0 per dollar as of 1100 GMT, reaching its lowest point in over 15 years earlier in the day at 1,486.7.

“In terms of financial markets, (Choi) taking charge can only be bad news, as it only goes to show that political turmoil is ongoing,” said Huh Jae-hwan, an analyst at Eugene Investment & Securities.

The crisis has led to fears of an economic downturn comparable to South Korea’s financial crisis in the late 1990s.

“The country could plunge into economic troubles,” warned Shin Yul, a political science professor at Myongji University.

Before his removal, Choi had urged parliament to reconsider the impeachment of Han, warning that it could inflict serious harm on the nation’s economy. His plea was ultimately rejected, adding another layer of uncertainty to South Korea’s political and economic landscape.

Faridah Abdulkadiri

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