In a shocking late-night tv broadcast on Dec 3rd President Yoon Suk Yeol declared martial-law across South Korea causing immediate nation-wide unrest. The won dropped fast against the dollar as markets opened
The presidentʼs un-announced speech focused on domestic issues rather than any real north korean threat: he blamed anti-state forces and opposition parties for what he called a hostage situation in parliament. “I declare martial law to protect the free Republic of Korea from the threat of North Korean communist forces“ Yoon stated while not giving any proof of such threats
Tanks armored personnel carriers and soldiers with guns and knives will rule the country
The crisis started last week when the opposition-led parliament cut 4 trillion won from governments budget proposal. This week they also tried to impeach top prosecutors which made Yoon take extreme steps. Now military vehicles block entrance to the parliament building (which hasnt happened since the 1980s when SK became democratic)
The situation gets more complex as the Democratic Party which has parliament majority calls citizens to come to National Assembly; however White House hasnt made any statement yet about these events
- Budget cuts by opposition
- Prosecutor impeachment attempt
- Military presence near parliament
- Currency market impact
- No US response