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South Korea's President Yoon Suk Yeol faces an impeachment vote on December 7 after declaring and then reversing martial law, prompting swift backlash from lawmakers and the public. Meanwhile, Bitcoin has surged past $100,000 for the first time, and U.S. markets hit record highs. Despite political turmoil, some analysts suggest that a quick resolution could stabilize investor sentiment.
South Korea's parliament has initiated impeachment proceedings against President Yoon Suk Yeol following his controversial announcement and quick reversal of martial law. The opposition Democratic Party, which holds a majority, requires support from eight lawmakers of the ruling People’s Power Party to achieve the necessary supermajority. Amid political turmoil, experts express mixed views on South Korea's investment climate, with some suggesting potential stability if Yoon resigns or is impeached.
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.
South Korean President Yoon Suk Yeol faces impeachment calls after his failed martial law declaration, which sparked the worst constitutional crisis in decades. Opposition lawmakers and protesters demand his resignation, citing a grave violation of the constitution, while financial authorities work to stabilize the economy amid market turmoil. If impeached, Yoon would be suspended from duties, with a new election required within 60 days.
South Korean President Yoon Suk Yeol faces a leadership challenge as the opposition seeks to control the annual budget. Yoon's government proposed a 677.4 trillion won budget, aiming for a 3.2% increase to support a cooling economy, but the Democratic Party has cut 4.1 trillion won from the total.
South Korea's main opposition party has agreed to support the government's plan to eliminate the capital gains tax on retail investors' financial investments. Opposition leader Lee Jae-myung emphasized the challenging state of the stock market and the importance of the 15 million investors relying on it.
Lee Jae-myung
People
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