Berliner Boersenzeitung - South Korea: Yoon Suk Yeol shocks Nation

EUR -
AED 4.293926
AFN 80.664061
ALL 97.673606
AMD 448.805894
ANG 2.092137
AOA 1072.008381
ARS 1473.86814
AUD 1.777194
AWG 2.107191
AZN 1.992006
BAM 1.954969
BBD 2.359897
BDT 142.119594
BGN 1.956648
BHD 0.440707
BIF 3438.141097
BMD 1.169038
BND 1.495564
BOB 8.093595
BRL 6.502078
BSD 1.168803
BTN 100.195413
BWP 15.604368
BYN 3.824874
BYR 22913.14706
BZD 2.347702
CAD 1.601524
CDF 3373.844424
CHF 0.930865
CLF 0.029161
CLP 1119.038818
CNY 8.380309
CNH 8.386416
COP 4674.983423
CRC 589.449462
CUC 1.169038
CUP 30.97951
CVE 110.795635
CZK 24.665189
DJF 207.761914
DKK 7.461795
DOP 70.497539
DZD 151.705573
EGP 57.855667
ERN 17.535572
ETB 160.045846
FJD 2.621276
FKP 0.861628
GBP 0.866082
GEL 3.16855
GGP 0.861628
GHS 12.162504
GIP 0.861628
GMD 83.590727
GNF 10119.194341
GTQ 8.978184
GYD 244.526067
HKD 9.176307
HNL 30.804608
HRK 7.533988
HTG 153.404797
HUF 399.5543
IDR 18972.787189
ILS 3.894218
IMP 0.861628
INR 100.328609
IQD 1531.439931
IRR 49231.122092
ISK 142.400984
JEP 0.861628
JMD 186.90056
JOD 0.828894
JPY 172.334969
KES 151.39488
KGS 102.232832
KHR 4700.702671
KMF 492.340851
KPW 1052.173978
KRW 1612.291055
KWD 0.357481
KYD 0.973978
KZT 610.670442
LAK 25169.39103
LBP 104721.265739
LKR 351.480608
LRD 234.977068
LSL 20.949609
LTL 3.451866
LVL 0.70714
LYD 6.307006
MAD 10.52427
MDL 19.78759
MGA 5178.839256
MKD 61.56729
MMK 2453.70284
MNT 4194.046924
MOP 9.450302
MRU 46.415189
MUR 53.168296
MVR 18.007558
MWK 2030.039055
MXN 21.79146
MYR 4.971339
MZN 74.772119
NAD 20.949604
NGN 1786.89858
NIO 42.962591
NOK 11.839321
NPR 160.312861
NZD 1.945479
OMR 0.449493
PAB 1.168808
PEN 4.145998
PGK 4.822327
PHP 66.037214
PKR 332.445259
PLN 4.266015
PYG 9058.149949
QAR 4.256005
RON 5.081579
RSD 117.102724
RUB 91.189371
RWF 1676.400657
SAR 4.384424
SBD 9.733981
SCR 16.480784
SDG 702.011685
SEK 11.176827
SGD 1.496958
SHP 0.91868
SLE 26.307644
SLL 24514.149043
SOS 668.109564
SRD 43.49699
STD 24196.728708
SVC 10.226653
SYP 15199.779355
SZL 20.949595
THB 37.935718
TJS 11.296147
TMT 4.103324
TND 3.393762
TOP 2.738009
TRY 46.955356
TTD 7.940625
TWD 34.1849
TZS 3039.499492
UAH 48.831645
UGX 4189.219426
USD 1.169038
UYU 47.259913
UZS 14794.17774
VES 133.584256
VND 30528.845862
VUV 140.012408
WST 3.21431
XAF 655.672706
XAG 0.030416
XAU 0.000348
XCD 3.159384
XDR 0.812965
XOF 655.250067
XPF 119.331742
YER 282.732293
ZAR 20.963079
ZMK 10522.750076
ZMW 27.056616
ZWL 376.429796
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%


South Korea: Yoon Suk Yeol shocks Nation




South Korea in Crisis: President Yoon Suk Yeol's Coup Shakes the Nation

In a stunning and unprecedented move, South Korean President Yoon Suk Yeol has attempted to seize absolute power, plunging the nation into political chaos. On the night of December 3, President Yoon declared martial law, suspended the National Assembly, and deployed soldiers to surround its premises, effectively paralysing the country’s democratic institutions. The world is watching in shock as one of Asia’s most stable democracies faces an uncertain future.

The Coup: A Nation in Shock
The events unfolded rapidly on a cold December night, leaving South Koreans and the international community reeling. President Yoon cited national security threats and alleged internal dissent as justification for his actions, but critics are calling it a blatant power grab. By suspending the National Assembly—South Korea’s legislative body—Yoon has undermined the very foundation of the nation’s democratic system.

Eyewitnesses reported heavy military presence in the capital, Seoul, as soldiers and armoured vehicles took positions near government buildings. Communication networks were temporarily disrupted, adding to the confusion. The swift and calculated nature of the coup suggests months of planning, raising questions about who within the government and military may have supported the move.

Immediate Reactions: Outrage and Resistance
The coup has sparked widespread outrage among South Koreans. Protesters took to the streets in major cities, waving banners and chanting slogans calling for Yoon’s resignation. Opposition leaders condemned the move as a betrayal of the democratic values South Korea has upheld since its transition from military rule in the 1980s.

International leaders, including the US-President Joe Biden who is still in office until 20 January 2025 and Japanese Prime Minister Fumio Kishida, have expressed grave concern. The United Nations has called for an emergency session to address the situation, while human rights organisations warn of potential crackdowns on dissent.

What Led to This Crisis?
President Yoon’s tenure has been marked by polarising leadership and a growing divide between conservatives and progressives. Critics argue that his administration’s inability to address pressing economic challenges, such as rising housing costs and youth unemployment, eroded public trust. Yoon’s approval ratings had plummeted in recent months, and his administration faced mounting scrutiny over alleged corruption scandals.

While Yoon’s justification for the coup includes vague references to national security threats, experts believe the move was motivated by a desire to cling to power amidst growing opposition. Some speculate that internal disagreements within his party and the prospect of impeachment may have pushed Yoon to take drastic action.

The Role of the Military
The military’s involvement in the coup is particularly troubling for a country with a history of authoritarian rule. South Korea transitioned to a democracy in 1987 after decades of military dictatorship, and the armed forces have since remained apolitical. Yoon’s ability to mobilise the military raises questions about divisions within the armed forces and whether dissenting voices exist among its ranks.

Should significant portions of the military oppose Yoon’s actions, the possibility of a counter-coup or internal conflict could further destabilise the nation.

Implications for South Korea’s Future
The attempted coup casts a shadow over South Korea’s hard-earned reputation as a thriving democracy. Its political stability and economic strength have made it a key player in the global arena, but this crisis threatens to derail decades of progress.

Domestically, the suspension of democratic institutions could lead to widespread unrest, civil disobedience, and a protracted power struggle. Economically, investor confidence is likely to plummet, jeopardising South Korea’s status as a global technology and trade hub.

On the international stage, the coup could strain alliances, particularly with the United States, which has long regarded South Korea as a crucial ally in countering North Korea and maintaining regional stability. China and North Korea, meanwhile, may view the situation as an opportunity to exploit South Korea’s weakened state.

The Road Ahead: Democracy or Dictatorship?
The fate of South Korea now hinges on the response of its citizens, political leaders, and international allies. Opposition parties have called for immediate action to restore democracy, including mass protests and legal challenges. Meanwhile, world leaders face the delicate task of pressuring Yoon’s government while avoiding escalation.

The unfolding crisis serves as a stark reminder that even the most established democracies are not immune to authoritarian tendencies. For South Korea, the road ahead is fraught with uncertainty, but its people have shown resilience before. Whether the nation emerges from this crisis as a stronger democracy or succumbs to authoritarian rule will shape its future—and its place in the world—for generations to come.