The main opposition Democratic Party of Korea announced Thursday that an impeachment motion against President Yoon Suk Yeol will be put to a vote on Saturday, per Asia News. It needs at least eight members of Yoon's party to vote for his impeachment for the motion to pass with a two-thirds majority in the 300-seat parliament.
This action came after South Korea's President declared martial law in the country for the first time in nearly 50 years, mentioning "anti-state forces" and the threat from North Korea.
Market reaction
At the time of writing, the USD/KRW pair is trading 0.05% higher on the day to trade at 1416.25.
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