South Korea’s impeached President Yoon faces arrest as court issues warrant, deepening political turmoil

South Korea’s impeached President Yoon faces arrest as court issues warrant, deepening political turmoil


South Korean President Yoon Suk-Yeol speaks to the nation at the Presidential Office on December 14, 2024 in Seoul, South Korea. 

South Korean Presidential Office | Getty Images News | Getty Images

South Korea’s impeached President Yoon Suk Yeon could become the first sitting president of the country to face an arrest after a court issued a warrant against him, domestic media reported.

The Seoul Western District Court issued the detention warrant against Yoon, Korea Times reported, after he failed to show up for questioning, despite multiple summons by a joint investigation unit comprising South Korea’s police and the Corruption Investigation Office for High-ranking Officials.

The warrant empowers the CIO to take Yoon into custody for questioning within a 48 hours.

Yoon Kab-keun, the sitting president’s lawyer, has said that investigating insurrection charges is outside the CIO’s jurisdiction. Citing security concerns, the Presidential Security Service has blocked access to the presidential office compound and Yoon’s official residence, according to news agency Yonhap.

South Korean presidents do not enjoy immunity from insurrection or treason charges. Moreover, presidents are not allowed to obstruct a court-issued detention or arrest warrant, according to CIO Chief Oh Dong-woon.

Yoon is facing charges related to his declaration of emergency martial law on Dec. 3, which he justified as necessary for the protection of the constitution. He lifted martial law within six hours after the country’s National Assembly voted to overturn his decree.

Yoon was impeached by lawmakers on Dec. 14, with members of his People Power Party voting in favor of the motion. An earlier vote had failed to reach a two-thirds majority.

South Korea’s Constitutional Court has begun proceedings to determine whether to remove Yoon from office or to reinstate him, reported Yonhap. It will deliver its ruling within 180 days, starting Dec. 14.

While the impeachment suspends Yoon from his duties and powers as head of state, he remains president while the Constitutional Court deliberates on his case.

After Yoon’s impeachment, Prime Minister Han Duck-soo filled in for the role of president.

However, Han was also impeached last week. He was accused by the opposition Democratic Party of being reluctant to immediately appoint three justices to the Constitutional Court.

Chio Sang-mok, deputy prime minister and finance minister, became acting president on Dec. 27 following Han’s impeachment.

— CNBC’s Ruxandra Iordache and Hakyung Kim contributed to this report.



Source

Nissan’s CEO on leading in chaos: Be fast and be flexible
World

Nissan’s CEO on leading in chaos: Be fast and be flexible

If you’ve just taken the top job, Nissan’s new CEO Ivan Espinosa has some advice for you. Espinosa steps into the role at a turbulent time for the global auto industry — with slowing EV sales, intensifying competition from China, and new tariffs threatening profits. “Keep the optimism up, because the environment is very tough, […]

Read More
Private equity bosses turn bullish on Europe
World

Private equity bosses turn bullish on Europe

U.K., abstract of glass and steel built office towers in the London financial district. Shomos Uddin | Moment | Getty Images BERLIN – At the world’s largest gathering of private equity professionals, the buzz around opportunity in Europe is undeniable, in a sharp reversal of sentiment from this time last year. That shift comes amid […]

Read More
Investor appetite for the safe haven Swiss franc is causing problems for its central bank
World

Investor appetite for the safe haven Swiss franc is causing problems for its central bank

The Swiss National Bank (SNB) in Bern, Switzerland, on Thursday, Dec. 12, 2024. Stefan Wermuth | Bloomberg | Getty Images U.S. President Donald Trump’s trade policies have rocked global equities in recent weeks, driving investors to seek out pockets of safety in financial markets. One of the beneficiaries of the market volatility has been the […]

Read More