Police stand guard in front of the main gate of the National Assembly in Seoul on December 3, 2024, after South Korea's President Yoon Suk Yeol declared emergency martial law.
South Korea President Yoon on December 3 declared emergency martial law, saying the step was necessary to protect the country from "communist forces" amid parliamentary wrangling over a budget bill.
The iShares MSCI South Korea ETF, which tracks more than 90 large and mid-sized companies in South Korea, tumbled 6% to hit a 52-week low.
South Korean stocks dropped in the U.S. on Tuesday after President Yoon Suk Yeol invoked emergency powers and declared martial law, raising fear of instability in the world's 13th largest economy.
This is the first time since 1980 a South Korean leader has issued a martial law declaration.
Persons:
Yoon Suk Yeol, Yoon, Yoon Suk, —
Organizations:
National Assembly, South, Korea ETF, Korea Electric, KT Corporation, Korea Telecom, Korea Exchange, U.S, South Korean
Locations:
Seoul, Korea, South Korea, U.S, Korean, South Korean, North Korea