South Korea faced political chaos on Tuesday after President Yoon Suk Yeol declared martial law during a live TV broadcast. Hours later, he reversed the decision amid nationwide protests and political opposition.
What Happened?
The sudden announcement shocked citizens and created confusion. The military quickly issued a decree outlining strict measures.
The decree banned protests, restricted political activities, and placed media under government control. However, these actions were short-lived.
In response, 190 lawmakers out of 300 defied military cordons to vote against the declaration. Yoon then pledged to rescind it.
Why Did President Yoon Declare Martial Law?
President Yoon accused opposition parties of disrupting governance and creating instability. He cited no immediate external threats.
“I declare martial law to protect South Korea from anti-state forces and preserve our constitutional order,” Yoon said.
He also mentioned domestic conflicts, including impeachment motions and clashes with parliament over budget approvals and investigations.
What Steps Did the Military Take?
The military, led by General Park An-su, moved swiftly after the decree. Strict measures were announced at 11 p.m.
Key actions included:
– Banning protests and political activity.
– Restricting media operations.
– Ordering striking doctors back to work.
Violators risked arrest without warrants, further escalating public anger.
Public and Political Backlash
The declaration sparked massive protests outside parliament. Thousands gathered, demanding an immediate repeal of martial law.
Inside the National Assembly, lawmakers united against the decision. Both opposition and ruling party members called it unconstitutional.
All 190 present lawmakers voted to lift the decree. Shortly after, Yoon announced plans to officially reverse martial law.
Impact on Financial Markets
The martial law declaration caused panic in financial markets. The South Korean won hit multi-year lows overnight.
The finance ministry responded with promises of “unlimited” liquidity to stabilize markets. Emergency measures were approved by the central bank.
How Was It Lifted?
Under pressure, Yoon abandoned the martial law decree on Wednesday. Protests and political opposition forced a quick reversal.
Opposition leaders labeled the attempt an “insurrection” and demanded Yoon’s resignation. His chief of staff offered to resign.
What’s Next?
More protests are expected. The Korean Confederation of Trade Unions plans strikes and rallies until Yoon steps down.
Meanwhile, impeachment threats loom as political tensions continue to rise. The crisis is far from over.
This dramatic episode has left South Korea in turmoil, with far-reaching consequences still unfolding.
