Macro-financial risk
2026-04-26
9 minute read
10 sources
South Korea 2026: After Martial Law, the Korea Discount Re-rated
Yoon Suk-yeol's six-hour martial law on December 3, 2024 broke a presidency, repriced the won, and handed the Lee Jae-myung Democratic Party a working mandate that now has to fix chaebol governance, household debt, and a pension system the country keeps deferring.
On December 3, 2024 President Yoon Suk-yeol invoked Article 77 of the Constitution and declared martial law for the first time since 1980. The National Assembly nullified the decree by Resolution 190-0 within hours, the Assembly impeached Yoon 415 to 0 on December 14, and the Constitutional Court removed him by a 6 to 3 ruling on April 4,...