Visually impaired lawmaker had tried to scale walls on martial law day

Kim Yea-ji, South Korea’s first visually impaired lawmaker and a member of the ruling People Power Party, is in the spotlight as one of the only three from her party to participate in the parliamentary vote to impeach President Yoon Suk Yeol on Saturday. The National Assembly’s motion failed due to a failure to meet the quorum after lawmakers from the ruling People Power Party boycotted the vote. It resurfaced Sunday that Kim sought to enter the parliament building immediately afte

PoliticsDec. 8, 2024

Interior Minister resigns following martial law fiasco

South Korean President Yoon Suk Yeol on Sunday accepted the resignation of Interior Minister Lee Sang-min, who is believed to have played a key role in the martial law debacle late Tuesday. Lee’s resignation comes a day after the Democratic Party of Korea submitted an impeachment motion against the former minister, accusing Lee of plotting the martial law plan and advocating for it. The motion was due to be voted on Tuesday. “I deeply acknowledge my responsibility for failing to work

Social AffairsDec. 8, 2024

[News Analysis] How will North Korea react to South Korea’s political crisis?

North Korea is widely expected to remain silent amid South Korea's political turbulence, defined by President Yoon Suk Yeol’s survival of an impeachment motion on Saturday, followed by the ruling party’s announcement on Sunday calling for his "orderly early resignation." However, the prospect of Pyongyang exploiting South Korea's perceived political vulnerabilities through provocations cannot be ruled out. If Pyongyang remains tight-lipped, the decision will under

PoliticsDec. 8, 2024

Prosecutors name Yoon as suspect in insurrection probe

South Korean President Yoon Suk Yeol narrowly avoided impeachment on Saturday after the motion was scrapped for failing to meet the quorum of two-thirds of the 300-member Assembly. However, his legal troubles are far from over. Police, prosecutors and corruption authorities have all begun wide-ranging investigations into his controversial declaration of martial law and opposition parties vow to pursue alternative avenues of accountability. The prosecution said Sunday the president has been booke

PoliticsDec. 8, 2024

Kim Keon Hee narrowly escapes investigation in close vote

First lady Kim Keon Hee narrowly avoided a special counsel investigation on Saturday as a revote on a bill to launch a probe into allegations against her fell just two votes short of passing in the National Assembly. In a vote of 198-102, the bill to appoint a special counsel narrowly failed to win the required two-thirds majority in the 300-member parliament. The revote took place before a separate motion to impeach Yoon, which also got scrapped due to a lack of quorum. While the rejection spar

PoliticsDec. 8, 2024

Speaker Woo Won-shik proposes bipartisan talks on Yoon Suk Yeol’s fate

National Assembly Speaker Woo Won-shik on Sunday voiced his opposition against the proposed joint exercise of presidential authority by the prime minister and the ruling party. "The president's authority comes from the people, and any process to strip it or delegate it must follow the Constitution and the principle of popular sovereignty,” he stressed. He was referring to the stability plan presented earlier Sunday by Prime Minister Han Duck-soo and ruling People Power Party ch

PoliticsDec. 8, 2024

Bumpy road ahead for Korean economy

As the fate of embattled President Yoon Suk Yeol is likely to stay in limbo for longer than expected, concerns are mounting over pending economic measures that need to be addressed to rev up the country’s slowing growth. After a failed parliamentary vote on his impeachment Saturday, Han Dong-hoon, leader of the ruling People Power Party, stressed Sunday that he would push for the president’s resignation. The main opposition Democratic Party called for Yoon to immediately step down, t

EconomyDec. 8, 2024

President Yoon Suk Yeol's office silent after impeachment scrapped

Since the impeachment motion at the National Assembly failed, President Yoon Suk Yeol's office had remained silent as of press time Sunday. Yoon's office express no opinion about the vote, which ended 9:20 p.m. Saturday after falling short of the 200 votes needed to pass. Neither did it make any public announcement concerning Yoon's decision based on his power to appoint or sack a Cabinet member under the Constitution. The Ministry of Interior and Safety announced that the Interio

PoliticsDec. 8, 2024

Financial regulators, banking heads to meet amid market instability

South Korea's financial regulators are set to meet with the heads of major financial groups next week amid escalating political tension surrounding President Yoon Suk Yeol’s impeachment motion. The Financial Services Commission is arranging a meeting with the heads of major financial groups, including KB, Shinhan, Hana, Woori and NongHyup, though the date remains unconfirmed. An official from one of the groups indicated that the meeting, initially set for Thursday, was canceled on Sat

EconomyDec. 8, 2024

Han Duck-soo pledges stability, but his authority is in question

After the National Assembly failed to pass the motion to impeach South Korean President Yoon Suk Yeol on Saturday, Prime Minister Han Duck-soo vowed Sunday morning to “humbly seek cooperation” with the ruling People Power Party to “ensure all state functions operate smoothly and stably.” However, the opposing Democratic Party of Korea denounced such plans, claiming that such measures are “unconstitutional.” According to the Constitution, the prime minister is

PoliticsDec. 8, 2024

Korea’s defense stocks tumble amid fallout of Yoon's folly

The stock prices of Korean defense firms have been battered in recent days, as concerns grow that the fallout of President Yoon Suk Yeol’s martial law declaration could harm the outlook for the country’s defense industry. Shares of Hanwha Aerospace closed at 298,000 won ($209) on Friday, down about 12 percent from Tuesday's close. Yoon declared martial law on Tuesday night, prompting the National Assembly to pass the motion to dismiss the martial law decree early Wednesday. Shar

IndustryDec. 8, 2024

Ruling camp vows to take over Yoon's role

The prime minister and the leader of the ruling conservative party on Sunday jointly announced their plans to fill in for President Yoon Suk Yeol, claiming he will no longer be involved in handling state affairs, in a move that was denounced by the main opposition as unconstitutional. In a public address given by Prime Minister Han Duck-soo and the ruling People Power Party Chair Han Dong-hoon, the two said they will cooperate in operational matters related to "national governance." Ha

PoliticsDec. 8, 2024

Opposition brands ruling party’s plan to fill in for Yoon unconstitutional

The Democratic Party of Korea rejected the ruling People Power Party leader Han Dong-hoon’s proposal that his party and Prime Minister Han Duck-soo would fill in while President Yoon Suk Yeol is phased out of office. In a joint address to the nation Sunday, Han said his party and the prime minister would lead the running of the country as the president steps down in an orderly transition of power. Rep. Kim Min-seok, the No. 2 of the Democratic Party, said the ruling party proposal to take

PoliticsDec. 8, 2024

Can Yoon be suspended without impeachment?

South Korea is facing unprecedented political turmoil as its ruling People Power Party, led by its chair Han Dong-hoon, grapples with the exit strategy that would otherwise determine the fate of President Yoon Suk Yeol. Amid the opposition Democratic Party of Korea's push for Yoon's impeachment following allegations of insurrection, the conservative ruling bloc has now strategically shifted toward calls for Yoon's orderly resignation, arguing that this path would ensure a more sta

PoliticsDec. 8, 2024

Han Kang's 'Human Acts' reverberates once again

Just weeks after her groundbreaking Nobel Prize win, Han Kang's books have sold millions of copies nationwide. Last week, annual sales reports from major Korean bookstores revealed that half of the year's top-10 bestsellers were Han's works. Particularly noteworthy is that among her titles, "Human Acts" holds the No. 1 spot on both Kyobo Book Center, the country’s largest bookstore chain, and Yes24, the leading online retailer. With the global acclaim of "The

BooksDec. 8, 2024

LG Electronics readies for $1.8b Indian IPO

South Korean home appliances giant LG Electronics is aiming to cement its presence in India, going for an initial public offering in the country, where the firm is a leader in the premium TV and air conditioner market. On Friday, the company’s Indian arm filed for an IPO with the Securities and Exchange Board of India, a draft red herring prospectus from the company showed. LG Electronics, the parent company that fully owns the Indian entity, will sell 101.8 million shares, accounting for

IndustryDec. 8, 2024

Korea’s martial law declaration a shock for Doha Forum delegates

Korea Herald correspondent DOHA, Qatar -- Political scientists and think tank representatives gathering in Doha for an annual international forum expressed shock at South Korean President Yoon Suk Yeol’s martial law declaration that caused widespread political turmoil in the country. Speaking with The Korea Herald at the Doha forum, many intellectuals shared views on the implications for South Korea’s democracy and stability. With over 4,500 participants from more than 150 countries

Foreign AffairsDec. 8, 2024