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South Korean prosecutors are seeking a six-month prison sentence for lawmaker Kim Nam-kuk, who allegedly failed to report his cryptocurrency holdings, claiming only 1.2 billion won in assets while actually possessing 9.9 billion won. Kim, who left the Democratic Party amid these allegations, is accused of obstructing the National Assembly Ethics Committee's review of his assets. His trial is occurring against a backdrop of political turmoil following President Yoon Suk Yeol's martial law declaration and subsequent impeachment by the National Assembly.
South Korean President Yoon Suk-yeol survived an impeachment motion after his ruling party boycotted the vote, which was triggered by his recent attempt to impose martial law. The opposition plans to revisit the measure, while Yoon has pledged not to attempt martial law again, apologizing for the incident. Amid political turmoil, South Korea's financial markets remain volatile, with warnings of potential impacts on the Korean won.
South Korean President Yoon Suk Yeol declared martial law for the first time in 50 years, citing threats from opposition groups. This move has sparked political turmoil, leading to an impeachment motion against Yoon and public protests, while the markets reacted with a temporary weakening of the Korean won. The outcome of the impeachment vote is anticipated to influence market stability moving forward.
Han Dong-hoon
People
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south korean lawmaker faces six months for concealing cryptocurrency holdings
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