South Korea Vows To Stabilize Markets After Yoon’s Impeachment

South Korea's finance ministry has pledged to swiftly deploy market-stabilizing measures to support the economy following the impeachment of President Yoon Suk Yeol over his brief imposition of martial law, Reuters reporters Heekyong, Jihoon Lee, and Cynthia Kim reported.

President Yoon Suk Yeol was impeached over his brief imposition of martial law. I Photo: Yang Dong Wook, Defense Media Agency (DEMA) / Republic of Korea Flickr

The ministry emphasized its commitment to actively communicate with parliament to maintain economic stability and announced plans to present its biannual policy roadmap before year-end.

Lee Jae-myung, leader of the main opposition Democratic Party, called for the creation of a National Stability Council for Governance.

This proposed council would include both government and parliamentary members to discuss financial stability, economic recovery, and public welfare.

The Bank of Korea also assured it would use all available policy tools, in coordination with the government, to mitigate any escalation of volatility in the financial and foreign exchange markets.

The bank highlighted the need for a more proactive response than in past impeachment periods, given heightened external challenges such as global trade uncertainty and intensified competition in critical industries.