South Korea’s political landscape has been further destabilized as parliament voted to impeach Acting President Han Duck-soo, marking an unprecedented move in the nation’s history. Han assumed the acting presidency after President Yoon Suk Yeol’s suspension earlier this month following his controversial attempt to impose martial law. With a vote tally of 192-0, lawmakers overwhelmingly supported the motion, reflecting deep dissatisfaction with the government’s recent decisions. This development leaves Finance Minister Choi Sang-mok poised to step in as interim leader, adding to the uncertainty in the country’s governance.
The impeachment vote stemmed from Han’s resistance to appointing three judges to the Constitutional Court, a step seen as crucial to finalizing Yoon’s removal. The main opposition Democratic Party, which holds a parliamentary majority, spearheaded the motion, accusing Han of obstructing efforts to restore constitutional balance. Han’s refusal, citing that only the president holds the authority to approve judicial appointments, intensified political tensions. Meanwhile, the Constitutional Court has begun pre-trial hearings and faces a June deadline to rule on Yoon’s impeachment case.
Economic concerns are compounding South Korea’s political challenges, with the won declining sharply against the dollar following the impeachment vote. The currency’s drop highlights investor unease as the nation grapples with slower growth projections, weakened semiconductor demand, and global economic pressures. The government has reassured markets of its readiness to provide unlimited liquidity if necessary, though confidence among consumers and businesses has already reached its lowest point since the COVID-19 pandemic. The political uncertainty further threatens economic recovery efforts.
As the nation navigates this crisis, President Yoon remains defiant, asserting that his martial law decree was necessary to counteract opposition efforts to disrupt governance. He has vowed to challenge the impeachment in court, escalating an already volatile political environment. With the Constitutional Court set to play a pivotal role, the months ahead promise to be critical for South Korea’s political and economic future. The unfolding events have not only shaken domestic stability but have also drawn global attention to the challenges facing one of Asia’s most dynamic economies.
