South Korea in Turmoil: Acting President Han Duck soo Impeached Amid Political Crisis

South Korea is witnessing a political storm of unprecedented proportions as Acting President Han Duck-soo has been impeached by the country’s parliament, escalating the already fragile political and economic landscape. The Democratic Party’s (DP) decision to remove Han, who assumed acting presidency following President Yoon Suk-yeol’s suspension, has sent ripples through South Korea’s governance structure and economy. Key Developments 1. The Impeachment Vote A total of 192 lawmakers in the 300-member parliament voted in favor of Han Duck-soo’s impeachment on Friday. Members of the ruling People Power Party (PPP) boycotted the vote, calling it unconstitutional. Majority Threshold Debate: While the DP claims that a simple majority (151 votes) suffices to impeach an acting president, the PPP insists that a two-thirds majority is required, mirroring the impeachment threshold for a sitting president. Immediate Fallout: Finance Minister Choi Sang-mok is expected to step in as the acting president, as per South Korean law. 2. Background: Martial Law and Yoon’s Suspension The political crisis began earlier this month when President Yoon Suk-yeol imposed martial law on December 3, citing threats from “anti-state forces.” This led to his impeachment by the DP-dominated parliament on December 14. Constitutional Court’s Role: For Yoon’s impeachment to be upheld, at least six of the nine constitutional court judges must agree. However, with three vacancies in the court, a unanimous decision is required to permanently remove Yoon from office. 3. Han’s Impeachment Grounds Han Duck-soo faced criticism for refusing to immediately appoint three constitutional court justices, citing the lack of bipartisan consensus. This move triggered the DP to accuse him of stalling the judiciary's functioning, further intensifying political hostilities. Economic Implications The political chaos has reverberated across South Korea’s financial markets. 1. Currency Impact The South Korean won dropped sharply, reaching levels not seen since the 2007-2009 global financial crisis. On Friday, it plunged below 1,480 won against the US dollar, reflecting investor concerns over escalating uncertainty. 2. Warning from Finance Minister Finance Minister Choi Sang-mok warned that the impeachment of Han could destabilize the nation’s economic standing. “The economy and livelihoods of the people are on thin ice. Greater political uncertainty will exacerbate the crisis,” Choi stated. Reactions and Expert Analysis 1. Political Reactions DP’s Justification: The Democratic Party defended its move, arguing that swift action was needed to maintain institutional integrity amid the constitutional court deadlock. PPP’s Criticism: PPP leaders decried the impeachment as unconstitutional and urged Han to disregard the decision. 2. Constitutional Uncertainty South Korea is in “uncharted constitutional waters,” with no clear legal precedent for the impeachment of an acting president. 3. Public Sentiment The political crisis has divided public opinion. Supporters of the DP view the impeachment as a necessary check on executive power, while PPP backers fear it could deepen national instability. What Happens Next? 1. Role of Constitutional Court The constitutional court will now decide on Han’s impeachment. Simultaneously, it must deliver a verdict on Yoon’s suspension, adding to its already heavy burden. 2. Economic Recovery at Stake The ongoing political turmoil could hamper South Korea’s efforts to address economic challenges, including inflation and a slowing growth rate. Conclusion The impeachment of Acting President Han Duck-soo underscores South Korea’s deepening political crisis. With both governance and economic stability hanging in the balance, the country faces a critical juncture. The coming weeks will be pivotal as the constitutional court and political stakeholders navigate this unprecedented scenario. As South Korea walks on thin ice, the world watches closely, anticipating whether its democracy can withstand the strain of this crisis.