South Korean lawmakers called on President Yoon Suk Yeol to resign or face impeachment after he declared emergency martial law, Reuters reported. (Updated on 4 December at 12:10 p.m.)Â
It was clearly revealed to the entire nation that President Yoon could no longer run the country normally. He should step down.
Just hours later, Yoon cancelled the move, triggering a political crisis in the country. The surprise announcement provoked a standoff with parliament, which rejected his attempt to ban political activities and impose media censorship.
South Korea’s six opposition parties announced they would submit a bill to impeach Yoon on Wednesday, with a vote to be held on Friday or Saturday. The leader of the ruling People Power Party called for the sacking of Defence Minister Kim Yong-hyun and the entire cabinet to resign as well.
Yoon said in a televised address on Tuesday that martial law was necessary to protect the country from North Korea and anti-state forces, but did not name any specific threats. The troops then tried to seize control of the parliament building.
However, lawmakers defied the security cordon, and hours after the announcement, South Korea’s parliament, attended by 190 of 300 members, unanimously passed a motion to lift martial law, including all 18 attending members from Yoon’s party.
South Korean media shared footage of MPs barricaded inside the building.
Political experts noted the speed of the special forces’ response. On President Yoon’s command, they arrived in front of the parliament in less than an hour.
The army also deployed columns of armoured vehicles and helicopters to Seoul.
Finance Minister Choi Sang-mok and Bank of Korea Governor Rhee Chang-yong held emergency meetings overnight, and the finance ministry pledged to support the markets if necessary.
We will inject unlimited liquidity into stocks, bonds, short-term money market as well as forex market for the time being until they are fully normalised.
If Yoon resigns or is suspended, Prime Minister Han Duck-soo will take over as leader until a new election is held within 60 days.
