SEOUL, Dec. 9 (Korea Bizwire) – Prosecutors investigating alleged treason following President Yoon Suk Yeol’s short-lived martial law imposition last week have questioned Army Chief of Staff Gen. Park An-su, who had been named to lead the martial law command, informed officials said Monday. Park was grilled by prosecutors as a witness at the Seoul Central [...]
SEOUL, Dec. 9 (Korea Bizwire) – Following President Yoon Suk Yeol’s shock declaration of martial law on December 3, foreign investors have initiated a significant withdrawal from South Korean financial institutions, marking a notable shift in international investment patterns in the country’s markets. The exodus appears driven by concerns that the financial sector could be particularly [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korea’s tourism and retail industries are on edge following the recent declaration and lifting of martial law, as travel warnings from major countries raise concerns about a potential decline in foreign visitors. While the Korea Tourism Organization reported no significant cancellations as of December 5, signs of apprehension [...]
WASHINGTON, Dec. 5 (Korea Bizwire) — The South Korea-U.S. alliance “transcends any particular president,” a State Department spokesperson said Thursday, as the National Assembly is moving to vote on an impeachment motion against President Yoon Suk Yeol over his short-lived martial law imposition. Principal deputy spokesperson Vedant Patel made the remarks, voicing expectation that the [...]
SEOUL, Dec. 6 (Korea Bizwire) — The leader of the ruling party said Friday that President Yoon Suk Yeol needs to be swiftly suspended from exercising power, revealing that Yoon ordered the arrests of prominent politicians during his aborted martial law declaration. Han Dong-hoon of the People Power Party (PPP) said there is a possibility [...]
SEOUL, Dec. 6 (Korea Bizwire) — The main opposition leader said Friday that President Yoon Suk Yeol’s duties should be promptly suspended as he abused his power by declaring martial law this week, labeling Yoon as the “mastermind behind a rebellion.” Lee Jae-myung, the chief of the Democratic Party (DP), ratcheted up pressure against Yoon [...]
SEOUL, Dec. 6 (Korea Bizwire) — President Yoon Suk Yeol’s approval rating tumbled to a record low of 13 percent, a survey showed Friday, following public backlash over his martial law declaration. According to the survey conducted by Gallup on 1,001 adults aged over 18 from Tuesday to Thursday, the positive assessment of Yoon’s performance [...]
WASHINGTON/SEOUL, Dec. 6 (Korea Bizwire) — U.S. Secretary of State Antony Blinken welcomed the lifting of martial law in South Korea and expressed his expectation for the Asian country’s “democratic process to prevail” during a call with his counterpart in Seoul on Thursday, his spokesperson said. Blinken and South Korean Foreign Minister Cho Tae-yul held [...]
SEOUL, Dec. 6 (Korea Bizwire) — The police and the prosecution launched separate investigation teams Friday to handle charges related to President Yoon Suk Yeol’s short-lived declaration of martial law this week. Police said they established a designated investigation team made up of some 120 personnel to look into four complaints accusing Yoon and others [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korea’s military is grappling with a crisis of morale among its younger service members, following their controversial deployment during President Yoon Suk Yeol’s now-lifted martial law declaration. Dubbed the “MZ Martial Law Troops” for their composition of Millennial and Gen Z soldiers, many expressed disillusionment over being used [...]