Ruling party leader says South Korea president must be suspended as soon as possible

Ruling party leader says South Korea president must be suspended as soon as possible


Protesters hold placards during a candlelight vigil to condemn South Korean President Yoon Suk Yeol’s surprise declarations of the failed martial law and to call for his resignation in Seoul, South Korea, December 5, 2024.

Kim Kyung-Hoon | Reuters

South Korea’s ruling party leader said on Friday President Yoon Suk Yeol needs to be removed from authority for the safety of the country for trying to impose martial law, but stopped short of urging members to vote for impeachment.

Yoon shocked the nation and his own ruling People Power Party on Tuesday when he announced he was imposing martial law in order to root out “anti-state forces” and overcome obstructionist political opponents.

He reversed course about six hours later after parliament, including some members of his party, voted to oppose the decree.

Speaking after a party meeting at the parliament on Friday, party leader Han Dong-hoon said Yoon had ordered the arrest of prominent politicians over grounds that they were among those “anti-state forces” during the martial law.

Long drawn-out impeachment process could favor South Korea's Yoon: Analyst

The main opposition Democratic Party has scheduled an impeachment vote for Saturday evening, and the national police have launched an investigation into Yoon on claims of insurrection filed by an opposition party and activists.

On Thursday, the ruling party said it was against impeachment, but Han suggested that stance may be shifting in light of “credible evidence” that Yoon had intended to arrest and detain political leaders at Gwacheon, just south of Seoul.

“I said yesterday that I would try not to pass this impeachment in order to prevent damage to the people and supporters caused by the unprepared chaos, but I believe that President Yoon Suk Yeol’s immediate suspension of office is necessary to protect the Republic of Korea and its people in light of the newly revealed facts,” Han said.

He did not explicitly call for impeachment or respond to reporters when asked for clarification.

Democratic Party leader Lee Jae-myung said the declaration of martial law was a rebellion waged by the president in order to maintain or extend his power.

“It’s an act of insurrection,” he said. “It’s a pro-military coup.”



Source

Wall Street sees ‘changing of the guard in AI’ as Intel, AMD shares soar while Nvidia lags
World

Wall Street sees ‘changing of the guard in AI’ as Intel, AMD shares soar while Nvidia lags

Lisa Su, CEO of AMD speaks with CNBC on May 6, 2026. CNBC Since the launch of ChatGPT in late 2022 and the start of the generative AI craze, one name has dominated the infrastructure boom: Nvidia. While the chipmaker — and the world’s most valuable company — continues to prosper and is expected to […]

Read More
The Federal Reserve is quickly running out of reasons to cut interest rates
World

The Federal Reserve is quickly running out of reasons to cut interest rates

If the Federal Reserve still has any reasons to cut interest rates in the near future, they’re getting harder and harder to find. Friday’s jobs report for April provided the latest evidence that the central bank’s larger concern isn’t a flagging labor market but rather a cost of living that is getting increasingly harder for […]

Read More
Investors are snapping up muni funds at fastest pace in 5 years. Why the good times may last
World

Investors are snapping up muni funds at fastest pace in 5 years. Why the good times may last

Volatility hasn’t dampened demand for municipal bonds. The assets performed dismally in March but rebounded in April. In fact, the ICE BofA US Municipals Securities Index posted its first positive April since 2021 and the strongest one since 2014. Munis are free of federal tax and, if the holder lives in the state in which […]

Read More