Yoon narrowly avoids impeachment after some party members defy boycott
Ruling party must now find a way to stabilize political turmoil. South Korean President Yoon Suk Yeol escaped impeachment on Saturday as his ruling party declined to participate in an opposition effort to remove him following his shocking declaration of martial law, which caught the nation and its allies off guard. The impeachment vote did not reach the necessary 200 votes required to suspend the president from his duties, as the ruling party opted to boycott the vote. A prolonged standoff ensued as the opposition awaited a change of heart from ruling party members. Although some eventually voted, it became evident that the motion would not succeed. The opposition, which holds a majority in the legislative assembly, has indicated it will swiftly seek another vote. This attempt to remove the president came after Yoon, 63, unsettled markets and surprised global leaders by declaring martial law for the first time since South Korea transitioned to democracy nearly four decades ago. He revoked the order six hours later after lawmakers hurried to the National Assembly and rejected the decree. While the outcome keeps Yoon in office for now, the ruling People Power Party must quickly devise strategies to reinforce the administration and stabilize the situation to prevent a recurrence of escalating public protests seen in South Korea previously. PPP leader Han Dong-hoon pledged to pursue an orderly exit for the President to minimize unrest, informing reporters that Yoon will effectively be sidelined from his responsibilities until he resigns. Prime Minister Han Duck-soo will assume a leading role in managing state affairs through close collaboration with the ruling party while also engaging with opposition factions, according to the party leader. According to the nation's constitution, the prime minister's duty is to assist the president and oversee ministries following directives from the president. Moments after the vote's failure, opposition Democratic Party leader Lee Jae-myung accused the ruling party of betraying the public. He expressed regret for not passing the motion, as other opposition lawmakers stood with him holding banners that read, “Impeach Yoon Suk Yeol.” “We will ultimately impeach Yoon Suk Yeol,” Lee declared. “We will restore normalcy for you as a Christmas gift.” The ruling party's choice to boycott the vote came shortly after Yoon expressed remorse for thrusting the country into a political crisis, stating he would leave his fate in the hands of the ruling party. Read more: South Korea’s Yoon Apologizes Hours Before Impeachment Vote President Yoon Suk Yeol conveyed his “sincere apologies” to South Korea for his brief enforcement of martial law in a speech preceding a scheduled impeachment vote on Saturday. The opposition coalition needed only eight votes from the ruling PPP to impeach Yoon. However, Yoon’s conservative members declined to support the motion, a decision that would likely have granted their political adversaries a significant victory in an early election that would have followed his removal. The impeachment attempt appeared destined to fail much earlier on Saturday evening when members of the ruling party exited the National Assembly without casting their votes. However, before voting commenced, opposition members collectively called on each member of the PPP by name to return and participate in the vote. “This incident will be recorded in our history, one built by the blood and sweat of our people,” parliamentary speaker Woo Won-shik stated, urging ruling party lawmakers to return and cast their votes. “The leader of a conservative faction cannot speak solely for individuals’ consciences and values.” Kim Sang-wook was welcomed by opposition lawmakers after he returned to the main chamber to vote.In an unexpected turn, two additional members returned, joining one PPP member who had already voted. This encouraged the opposition to maintain a standstill with several hours remaining before the 72-hour voting period was set to conclude. The votes from the three PPP members prompted protesters outside the National Assembly to chant “five more to go.” As of 7 p.m., authorities estimated that at least 100,000 individuals had assembled near the parliament to call for Yoon’s impeachment, in contrast to the 18,000 Yoon supporters who had gathered near Gwanghwamun by 6 p.m., as reported by Yonhap News. However, the likelihood of the impeachment failing increased when one member of the ruling party who participated in the vote revealed he had opposed it. The crowds began to diminish as the probable outcome became more apparent, temperatures fell, and food vendors began to close up after selling out of their supplies.
“I had intended to rest this weekend, but I felt so frightened after the declaration of martial law,” stated Park Hye-rim, a 33-year-old office employee from northern Seoul. “Even if the impeachment is rejected, I will return to protest repeatedly. I will not surrender.”
The political instability in South Korea seems poised to continue, according to Jun Rong Yeap, a market strategist at IG Asia Pte. “Increasing public protests and mounting pressure from the opposition could heighten the risk of defections among PPP members,” he noted, adding that the ongoing uncertainty may continue to weigh down its stock market into the upcoming week.