SEOUL (Reuters) – South Korea’s acting president, Han Duck-soo, sought to reassure the country’s allies and calm financial markets on Sunday, a day after President Yoon Suk Yeol was impeached and suspended from his duties over a martial law attempt.
Han spoke with U.S. President Joe Biden by phone, with the White House and Han’s office saying that South Korea will continue to carry out its foreign and security policies without disruption and maintain its alliance with the United States.
The main opposition party announced it would not seek to impeach Han for his involvement in Yoon’s Dec. 3 martial law decision, citing the need to maintain stability in national governance.
Yoon and several senior officials face potential charges of insurrection, abuse of authority, and obstructing people from exercising their rights, following his failure to appear for questioning on Sunday morning.
Han, a longtime technocrat, was elevated to acting president in accordance with the constitution while Yoon’s case moves to the Constitutional Court.
Demonstrators gathered outside the National Assembly building, with about 200,000 people calling for Yoon’s ouster, while a smaller group of Yoon supporters also held a rally.
The crisis has spooked markets and raised concerns over South Korea’s ability to deter nuclear-armed North Korea, with Biden reassuring Han that the ironclad U.S.-South Korea alliance remains unchanged.
Han convened his cabinet and National Security Council, vowing to maintain military readiness to prevent any breach of national security, and spoke with the commander of U.S. Forces Korea about the possibility of North Korean military provocations.
The country’s partners are seeking a credible and constitutional temporary leadership, with the acting president expected to maintain stability until a new president can be elected and a new government established.
The Constitutional Court has up to six months to decide whether to remove or reinstate Yoon, with a new election to be held within 60 days if he is removed or resigns.
South Korean shares rose on Friday on hopes that the political uncertainty would ease, but the country’s economy is still facing challenges, including a slump in consumption and a reduction in the government’s fiscal role.
