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PARIS — The reopening of the Notre Dame Cathedral should have been a victory lap for French President Emmanuel Macron. The vote against Barnier came just three months after Macron appointed him to the role, making him the shortest-serving French prime minister. Former French Prime Minister Michel Barnier. While Macron’s position is not technically affected by Barnier’s resignation, his political future has become uncertain as pressure grows for him to step down. “For the moment Macron’s position is not imperiled,” political expert Douglas Webber told NBC News on Thursday.

Persons: Emmanuel Macron, Michel Barnier, Barnier, Macron, Nathan Laine, ” Macron, “, ”, Donald Trump —, Barnier’s, Douglas Webber Organizations: PARIS, Notre Dame, European Union, Macron, French, Bloomberg, Getty, Notre Dame Cathedral, Notre, Dame, National Assembly, Popular Front coalition, NBC Locations: France, Paris

Choi Byung-hyuk, a retired four-star army general who is currently the South Korean ambassador to Saudi Arabia, was named as Kim’s successor. Kim Yong-hyun, who has resigned as South Korean defense minister, in Washington in October. He did not directly address whether the emergency martial law was his idea, as opposition lawmakers and South Korean media have alleged. Choi Byung-hyuk, a retired army general who is the South Korean ambassador to Saudi Arabia, has been named as Kim’s successor. Though PPP leaders repudiated Yoon’s martial law declaration and have asked him to leave the party, they said the party opposed the impeachment motion.

Persons: Yoon Suk, Yoon, Kim Yong, Choi Byung, ” Chung Jin, Saul Loeb, Kim, ”, Yoon’s, Jung Yeon, Han Duck, Kurt Campbell, “, Antony Blinken, Biden, Stella Kim, Jennifer Jett Organizations: South, Wednesday, AFP, Getty, Emergency Martial Law, National Office of Investigation, National Assembly, Protesters, Democratic Party, Yoon’s People Power Party, Police, U.S, Aspen Strategy, Reuters Locations: SEOUL, South Korea, South Korean, Saudi Arabia, Washington, Seoul, Korean, U.S, Hong Kong

☆ South Korean President Yoon faces impeachment: How did we get here?
▼ + stars: | 2024-12-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

South Korean President Yoon Suk Yeol is facing impeachment by parliament after a series of shocking moves that saw him briefly declare martial law in the country for the first time in nearly 50 years. South Korea's main opposition party, the Democratic Party, along with others, submitted the articles of impeachment on Wednesday, responding to what the DPK leader called an "unconstitutional and illegal declaration of martial law." If Yoon's impeachment is passed by parliament it moves to South Korea's Constitutional Court, which must then rule on whether to confirm or reject the impeachment. The leader of Yoon's ruling People Power Party said Thursday that he plans to unite his party to block the motion to impeach. In emails sent to NBC News, Yoon's office has maintained that his call for martial law was constitutional.

Persons: Yoon Suk, Yoon's, Kim Yong, hyun Organizations: South, Democratic Party, Korea's Constitutional, Power Party, NBC News Locations: Korea's

☆ Analysis: As France sinks into the political mire, Macron must be kicking himself
▼ + stars: | 2024-12-05 | by ( Joseph Ataman | ) edition.cnn.com time to read: +6 min

Macron ignored the left’s previous nomination for prime minister, and no far-right candidate appeared to be in the running. And now Emmanuel Macron plans to name a Macronist (prime minister) again. However the current political impasse is resolved, it surely provides only a poisoned chalice for the next prime minister. French Prime Minister Michel Barnier delivers a speech at the National Assembly in Paris on Wednesday. The far-right don’t seem willing to sully their political polling with genuine cooperation with Macron.

Persons: Emmanuel Macron, Michel Barnier, ”, Macron’s, Macron, Jordan Bardella, Marine Le Pen, –, There’s, ” Manuel Bompard, Le, Le Pen, Barnier sidled, appeasing Le Pen’s, Barnier, Pen, Sarah Meyssonnier, sully Organizations: Paris CNN, French, National Assembly, Macron Locations: France, –, Paris, Elysee, Belgium

☆ The leader of South Korea's opposition first thought the president's martial law declaration was a deepfake
▼ + stars: | 2024-12-05 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +2 min

AdvertisementSouth Korea's president, Yoon Suk Yeol, declared martial law in a televised address on Tuesday. Lee Jae-myung, South Korea's main opposition leader, initially thought the president's martial law declaration was a deepfake. South Korean President Yoon Suk Yeol shocked the world on Tuesday when he announced he was imposing martial law during a late-night address. Yoon came to power in 2022, narrowly defeating Lee in the most closely contested presidential election in South Korean history. In the immediate aftermath, the South Korean won plunged as much as 3% relative to the US dollar.

Persons: Yoon Suk Yeol, Lee Jae, myung, Lee, livestreaming, Kim Jong, Yoon Organizations: Democratic Party, CNN, National Assembly, South Korean Locations: North Korea, South

☆ France's political crisis just saw the government ousted — but Paris' problems have just begun
▼ + stars: | 2024-12-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Rather than marking the end of Paris' problems, however, the end of Barnier's short-lived premiership and government ushers in a new period of political turmoil and uncertainty in Paris, analysts and economists say. Marine Le Pen, president of National Rally, right, during a no-confidence debate at the National Assembly in Paris, France, on Wednesday, Dec. 4, 2024. "President Emmanuel Macron will have to appoint a new prime minister, who will have to form a new government. Other names that have been mentioned as possible candidates include Interior Minister Bruno Retailleau and former Prime Minister Bernard Cazeneuve. Portrait of France s Prime Minister Michel Barnier standing among the members of his government, applauded by his ministers and Macronist MPs.

Persons: Michel Barnier, Sarah Meyssonnier, Michel Barnier's, Barnier, —, Pen, Emmanuel Macron, Macron, Donald Trump, Charlotte de, –, Sébastien Lecornu, François Bayrou, Bruno Retailleau, Bernard Cazeneuve, Mujtaba Rahman, Rahman, Amaury Cornu, Chris Beauchamp, Kiran Ridley Organizations: French, Front, NFP, National Assembly, National, Bloomberg, Getty, Reuters, U.S, Notre Dame Cathedral, Charlotte de Montpellier, ING, Defence, Mouvement, Interior, Eurasia Group, Afp, CAC, IG Markets Locations: French, Paris, France, Switzerland, Europe, Eurasia

Seoul, South Korea CNN —The leader of South Korea’s main opposition party thought the president’s late night martial law announcement was a deepfake when he first saw it, he told CNN on Thursday as his party now seeks to impeach the country’s leader. There’s no way that’s real,’” he said, referring to the term for fake audio and video created with artificial intelligence. Multiple members of Yoon’s party joined their political opponents in blocking the martial law decree during the remarkable late-night scenes inside parliament. “We are concerned and afraid that President Yoon might make another declaration of martial law at any time … since the last martial law failed,” she told CNN on Thursday. In November, he was indicted for personal misuse of public funds, and separately convicted and sentenced for violating election law.

Persons: Yoon Suk Yeol, ‘, ’ ” Lee Jae, myung, “, ”, –, Yoon, Lee, Han Dong, hoon, Yoon’s, haven’t, Kang Sun, we’re Organizations: South Korea CNN, CNN, –, Democratic Party, Power Party, National Assembly, Reuters Locations: Seoul, South Korea, Korea

☆ Yoon Suk Yeol: The ‘American Pie’-singing conservative who tried to suspend democracy – and failed
▼ + stars: | 2024-12-05 | by ( Helen Regan | ) edition.cnn.com time to read: +12 min

Seoul, South Korea CNN —Declaring martial law in a stable and boisterous democracy was an audacious gamble – and one that appears to have backfired spectacularly for South Korean president Yoon Suk Yeol. But the president’s short-lived declaration of martial law still felt like an attack to the heart of the country’s democracy. Helicopters fly after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, on December 4, 2024. Soldiers try to enter the National Assembly building in Seoul on December 4 2024, after South Korea President Yoon Suk Yeol declared martial law. Many believe the botched martial law and subsequent democratic proceedings show that South Korean democracy is alive and well.

Persons: South Korea CNN —, Yoon Suk, Yoon’s, ”, Yoon Suk Yeol, Kim Hong, Kyung, ” –, Yoon, Joe Biden, ’, Don McLean, Jung Yeon, “, Antony Blinken, Park, Chip Somodevilla, Jae, Kang, Sung, Sydney Seiler, Lady Kim Keon Hee, Dior, Kim, Kim Keon Hee, “ Yoon, Ahn Byung, Donald Trump, Michel Barnier, Kwak Dong, Kwak, Kim Hyeon, Lee Jae, myung, Han Dong, Han, Hanna, Eunseo Jeong, Jessie Yeung, Rebecca Wright, Ivan Watson, Gawon Bae, Yoonjung Seo, Antoinette Radford Organizations: South Korea CNN, South, National Assembly, CNN, Helicopters, Reuters, United, House, Getty, South Korea, People Power Party, White, Seoul, Democratic Party, Min Consulting, Center for Strategic, International Studies, “, Korea Armed Forces, Kyung Hee University, Parliamentary Locations: Seoul, South Korea, South, Korea, Washington ,, North Korea, North, “, Seongnam, France, Korean

☆ French President Emmanuel Macron resists calls to resign and vows to name a new prime minister in days
▼ + stars: | 2024-12-05 | by ( Rob Picheta | ) edition.cnn.com time to read: +3 min

CNN —Embattled French President Emmanuel Macron said he hoped to appoint a new prime minister in the coming days, in a combative televised address that will do little to ease a deepening political crisis. Macron was speaking one day after Prime Minister Michel Barnier was ousted by lawmakers in a no-confidence vote. He had harsh words for the far-right National Rally, whose leader, Marine Le Pen, has orchestrated opposition against Macron and has vowed to frustrate his agenda. “Let’s be honest, they think about one thing: the presidential election,” Macron said of Le Pen’s party, claiming their “cynical” approach had brought “a sense of chaos” to the country. Whoever he picks as prime minister must be approved by a sharply divided parliament, where he faces an avowed opposition from both wings.

Persons: Emmanuel Macron, Macron, Michel Barnier, ” Macron, Barnier, “, Le, ”, National Assembly “, Barnier’s Organizations: CNN, Macron, Republican, National Assembly, ”

“I asked them, ‘Aren’t you ashamed?’” An, a spokesperson for the main opposition Democratic Party, told CNN while standing outside the National Assembly building Thursday. “Even if they were following orders, armed soldiers pointing guns at citizens in the National Assembly and interfering with lawmakers’ proceedings is undeniably illegal.”An Gwi-ryeong stands for a portrait outside the National Assembly in Seoul, South Korea, on December 5, 2024. Lawmakers had gathered in the middle of the night, preparing to vote down Yoon’s martial law order in the main assembly hall. “If the troops had entered and disrupted the vote, we wouldn’t have been able to lift martial law, and we wouldn’t be here today,” An said. JTBCInside, 190 lawmakers succeeded in voting against the decree and Yoon was forced to lift martial law just six hours after announcing it, amid widespread condemnation.

Persons: Yoon Suk Yeol, “, Bex Wright, ”, Yoon, ” Kang Sun Organizations: Seoul CNN, Democratic Party, CNN, National Assembly, Lawmakers, South, ” Locations: Seoul, Korean, South Korea, Korea

☆ CNBC Daily Open: South Korea and its markets are not unfamiliar with impeachment
▼ + stars: | 2024-12-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

A man wearing an outfit with a face mask of South Korea's President Yoon Suk Yeol dances outside the National Assembly in Seoul, South Korea on December 4, 2024, after Yoon declared martial law. South Korea's President Yoon Suk Yeol on December 3 declared martial law, accusing the opposition of being "anti-state forces" and saying he was acting to protect the country from "threats" posed by the North. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Impeachment motion filed against South Korea's presidentSouth Korea's President Yoon Suk Yeol is reportedly facing an impeachment vote on Dec. 7 after the country's parliament formally introduced a motion to impeach him over his shock announcement — and subsequent reversal — of martial law.

Persons: Yoon Suk, Yoon, Michel Barnier, Yoon Suk Yeol, Donald Trump, Paul Atkins, who's Organizations: National Assembly, South, CNBC, Front, South Korea's, Metrics, Securities and Exchange Commission, Salesforce, Marvell Technology, Dow Jones Industrial, Nasdaq, Hong, UBS, U.S, greenback, Investment Locations: Seoul, South Korea, Hong Kong

The martial law order, South Korea’s first since 1980, was reversed so quickly that many South Koreans weren’t aware of it until they woke up on Wednesday. People her age who had experienced martial law under the military dictatorship rushed to convenience stores to buy canned food, she said. Biden, who hosted Yoon for a state visit to Washington last year, has worked to enhance military and other ties with South Korea as a deterrent against China and North Korea, establishing a new trilateral security partnership with South Korea and its historic rival Japan. Earlier this year, South Korea became the first country outside the U.S. to host Biden’s annual Summit for Democracy. As South Korea grapples with political instability, the U.S. “should remain a steadfast ally,” Easley said.

Persons: “ Aren’t, Jeong, Yoon Suk, Kim Hong, Yoon, Emily Jo, ”, Jo, Yoo Yong, Yoo, Han Dong, ” Han, Lee Jae, myung, Jung Yeon, Ulf Kristersson, Lloyd Austin, Biden, Pat Ryder, Philip Fong, Leif, Eric Easley, Easley, ” Easley, Stella Kim, Cho Beomsoo, Jennifer Jett Organizations: Lawmakers, ‘, People Power Party, NBC, National Assembly, Getty, Democratic Party, Gallup, Korea Times, Swedish, Defense, South, for Democracy, South Korea, Pentagon, Embassy, Ewha Womans University Locations: “, Seoul, AFP, Gallup Korea, North Korea, Korean, Washington, South Korea, China, Japan, U.S, Korea, Hong Kong

Macron’s center-right prime minister, Michel Barnier, is facing a no-confidence vote tabled by far-right leader Marine Le Pen and her National Rally party. Marine Le Pen's National Rally party tabled a vote of no confidence in Barnier. A divided legislatureAfter Macron stunned Europe by calling snap parliamentary elections in June, Le Pen was only blocked from power by Macron’s centrists and their left-wing opponents working together tactically. But Le Pen says the budget cuts and tax rises are “red lines” she will not cross. Macron cannot run again due to term limits, leaving Le Pen as the current bookmakers’ favorite.

Persons: Emmanuel Macron, Antoine Armand, “, —, Donald Trump, Michel Barnier, Marine Le, Barnier, Macron, Stephane De Sakutin, ”, Rainbow Murray, Le Pen, Macron’s centrists, it’s, Murray, Nathan Laine, centrists, Olivier Chassignole, he’s, Douglas Webber, ” Webber, ’, ” Murray, Queen Mary said Organizations: Notre, Dame, ”, National Rally, Popular Front, National Assembly, Getty, Queen Mary University of London, European Union, Bloomberg, ” Taxi, Franco, Union Locations: Paris, France, Europe, American, Barnier, AFP, European, Greece, Lyon, technocrats, Europe’s, Germany, Netherlands, Austria, Finland

Antony Blinken, the U.S. secretary of state, welcomed Yoon’s order to rescind emergency martial law. Pentagon spokesperson Maj. Gen. Pat Ryder said the martial law order had “essentially no impact” on U.S. forces. The Ministry of National Defense also deployed between 200 and 300 armed troops to the National Assembly grounds via helicopter, Kim Min-gi, secretary-general of the National Assembly, said Wednesday. Throngs of protesters also arrived at the building in opposition to the martial law declaration. The martial law order was lifted around 4:30 a.m. Wednesday local time (2:30 p.m. Tuesday ET).

Persons: Yoon Suk, Yoon, Kim Yong, Lee Sang, Cho Seung, rae, Park Ahn, Yoon Hee, Cho, Han Dong, “, ”, Luis Robayo, Han Duck, Antony Blinken, ” Blinken, ” Yoon, Pat Ryder, Kim Min, Throngs, Woo Won, sik, ” Woo, Kim, ” Stella Kim, Jennifer Jett Organizations: South Korea —, Democratic Party, Defense, ’, National Police, Yoon’s People Power Party, Group, Getty, South, Wednesday, CNBC, Democratic, North, National Assembly, Martial Law Command, Pentagon, Ministry of National Defense, Power Party, Assembly, Korea’s, Chiefs, Staff, of National Defense Locations: SEOUL, South Korea, Rio de Janeiro, Brazil, AFP, U.S, Seoul, North Korea, Hong Kong

☆ French government toppled in no-confidence vote brought by opposition
▼ + stars: | 2024-12-04 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

France's Prime Minister Michel Barnier (C) looks on during a session of questions to the government at The National Assembly in Paris, on December 3, 2024. The French government has been toppled in a vote of no confidence Wednesday, plunging the euro zone's second-largest economy into a period of deep political uncertainty. Either motion needed the support of at least 288 deputies, out of 574 deputies in the National Assembly, to see the no-confidence vote succeed. Combined, the far-right bloc and leftwing alliance have roughly 333 lawmakers in Parliament, although some lawmakers had been expected to abstain from the vote. He said it had "been an honor" to serve as prime minister, before receiving a standing ovation from French politicians.

Persons: Michel Barnier, Barnier, Emmanuel Macron Organizations: France's, The National Assembly, Front, National, National Assembly Locations: Paris, France's Fifth Republic

☆ European markets head for mixed open with all eyes on French confidence vote
▼ + stars: | 2024-12-04 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European stocks are heading for a mixed open Wednesday with regional market attention focused on an upcoming no-confidence vote in France's parliament, the National Assembly. The vote is expected to take place this evening after lawmakers have debated two motions of no-confidence, tabled by the leftwing New Popular Front alliance and rightwing National Rally party, against Prime Minister Michel Barnier's minority government. The motions come after Barnier used special constitutional powers on Monday to pass a contested budget bill without a parliamentary vote. National Rally has already said it will support the motion brought by its left-wing rivals, but will also support its own motion of no-confidence. It's highly likely that Barnier's government will collapse after the vote.

Persons: Michel Barnier's, Barnier, It's Organizations: National Assembly, Front, rightwing Locations: France's

☆ South Korean parliament introduces motion to impeach President Yoon
▼ + stars: | 2024-12-04 | by ( ) www.cnbc.com time to read: 1 min

South Korean lawmakers submit a impeachment motion of South Korean President Yoon Suk Yeol at the National Assembly in Seoul, South Korea, December 4, 2024. South Korea's parliament on Thursday formally introduced a motion to impeach Yoon Suk Yeol, setting the stage for a historic vote which could oust the embattled president over a botched attempt to imposemartial law. The impeachment motion against Yoon was reported to a plenary session that opened shortly after midnight on Thursday. Following the introduction of the motion, a vote on impeachment must be heldwithin 24 to 72 hours.

Persons: Yoon Suk, Yoon Organizations: National Assembly Locations: Seoul, South Korea, Korea's

☆ I was at the protests in Seoul last night against martial law. Here's what I saw.
▼ + stars: | 2024-12-04 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Park joined the protests in Seoul after South Korea's president abruptly declared martial law. He arrived at the National Assembly building at around 11:45 pm and stayed until the next morning. Park participated in the protests against martial law outside South Korea's National Assembly building on Tuesday night. You could also get arrested since protests are illegal under martial law. Both of my parents lived through martial law when they were young.

Persons: Andrew Minjun Park, Yoon Suk Yeol, Yoon, Andrew Minjun, Cheers Organizations: Seoul National University . Park, National Assembly, South, South Korea's National, YouTube, South Korean Presidential, Getty Locations: Seoul, South, South Korea's, South Korea, North Korea

In a surprise, nationally televised address, he declared martial law, the first such decree in the country in decades. Inside, lawmakers who included members of Mr. Yoon’s own People Power Party voted unanimously to strike down his martial law. Image Soldiers trying to enter the main hall of the National Assembly on Tuesday after the declaration of martial law. On Wednesday, all senior aides to Mr. Yoon tendered their resignations to Mr. Yoon, leaving him more isolated than ever. As president, Mr. Yoon appointed Mr. Han as justice minister and later helped make him the head of his governing party.

Persons: Yoon Suk Yeol, Yoon, Yoon Suk, Yoon’s, , Chun Doo, Chang W, Lee, ”, Sung Deuk, Mr, Kang Won, Hahm, “, Kim Byung, Shin Hyun, Kim Yong, Moon Jae, ” , Kim Keon Hee, Han Dong, Han, Ahn, “ sycophantic, Yonhap Mr Organizations: National Assembly, Power Party, Agence France, United, South, Chosun Ilbo, ., New York Times, Kyonggi University, Seoul National University, Democratic Party, MBC Radio, Paratroopers, National, Mr, Student, Korean Central Intelligence, Associated Press, North, Kyung Hee University, People Power Party Locations: South Korea, , United States, Asia, Seoul, Korean, North Korea, Gwangju, Japan, Goyang

☆ Who Would Replace South Korea’s President Yoon?
▼ + stars: | 2024-12-04 | by ( Qasim Nauman | ) www.nytimes.com time to read: 1 min

South Korea’s opposition, which controls the National Assembly, has threatened to impeach President Yoon Suk Yeol if he does not resign after his ill-fated decision to impose martial law. If Mr. Yoon quits or is removed from office then, under the constitution, Prime Minister Han Duck-soo will step in to perform presidential duties. Mr. Yoon, a conservative, came into office after winning the 2022 presidential election by a threadbare margin, and appointed Mr. Han as the prime minister that year. Mr. Han began his career as a civil servant in the early 1970s, working on trade and industrial policy for decades. From 2009 to 2012, Mr. Han was South Korea’s ambassador to the United States.

Persons: Yoon Suk, Yoon, Han Duck, Han, Han’s, Roh Moo Organizations: National Assembly, Harvard Locations: South, United States

☆ Protesters say South Korea martial law shows ‘how easily democracy can be threatened’
▼ + stars: | 2024-12-04 | by ( Helen Regan | Eunseo Jeong | ) edition.cnn.com time to read: +5 min

“Martial law was something I felt deeply and personally. “It is a painful reminder of how easily democracy can be threatened.”It’s a message that appears to have resonated even with those who have only known democracy in South Korea. Protesters taking part in a march against South Korea President Yoon Suk Yeol head toward the Presidential Office in Seoul on December 4, 2024. People protesting against South Korean president Yoon Suk Yeol chant slogans as they attend a candlelight rally outside the National Assembly Building, in Seoul, South Korea, on 04 December, 2024. ⁠”Although there is some relief after the martial law was lifted, there is still concern that it could be re-declared,”“That’s why I am here,” she said.

Persons: Yoon Suk Yeol, shockwaves, Asia’s, ”, Yoon Suk, Kim Hong, Chun, “, Philip Fong, there’s, Daniel Ceng, Yoon, ⁠ Organizations: Seoul CNN, Hall, CNN, South, Reuters, Seoul City Hall, “, National Assembly, Protesters, South Korea, Getty, National, Democratic Party Locations: Seoul, South Korea, South Korean, Paju, Gyeonggi Province, North Korea, Gwangju, AFP, Anadolu

☆ Contentious budget plans are wreaking political havoc across Europe
▼ + stars: | 2024-12-04 | by ( Leonie Kidd | Head Of Tv News | ) www.cnbc.com time to read: +1 min

France's Prime Minister Michel Barnier ponders during a session of questions to the government at the National Assembly in Paris, on December 3, 2024. Meanwhile, the German government is already on track for a snap election early next year, with its own no-confidence vote set to take place in the next few weeks. Even in the U.K., Prime Minister Kier Starmer and Finance Minister Rachel Reeves are under pressure just five months into the job, with disputes mainly centered around — you guessed it — the budget. watch nowIn the euro zone, post-pandemic fiscal rules are putting pressure on even the most hawkish EU members. However, now Germany, Austria and the Netherlands are also falling foul of the EU's deficit rules that nations need to keep a 3% deficit ratio and a 60% debt ratio relative to their GDP.

Persons: Michel Barnier, Julien De Rosa, Kier Starmer, Rachel Reeves, Barnier's Organizations: France's, National Assembly, Afp, Getty, EU, European Commission Locations: Paris, France, Italy, Greece, Germany, Austria, Netherlands

☆ Kospi heavyweight stocks fall in volatile trade amid political chaos
▼ + stars: | 2024-12-04 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A man holds the South Korea flag outside the National Assembly in Seoul on December 4, 2024, after President Yoon Suk Yeol declared emergency martial law. South Korean heavyweight stocks fell in a volatile trading session Wednesday amid political upheaval that saw President Yoon Suk Yeol reverse a surprise martial law decree that he imposed hours earlier. The South Korean won depreciated further by 0.05% to trade at 1,415.78 against the greenback. South Korean stocks experienced significant fluctuations in the U.S. overnight. The iShares MSCI South Korea ETF, which tracks more than 90 large and mid-sized companies in South Korea, tumbled as much as 7% to hit a 52-week low before trimming losses to close 1.6% down.

Persons: Yoon Suk Yeol, Yoon Suk, Kim Byung, Yoon, Chong Koon Organizations: South, National Assembly, South Korean, Samsung Electronics, LG Energy, Hyundai Motor, SK Hynix, Naver Corp, Samsung SDI, Korea Gas Corporation, greenback, Standard Chartered Bank, CNBC, Bank of, Korea ETF Locations: South Korea, Seoul, Korean, Korea, Japan, Bank of Korea, U.S

☆ Inside the chaos in Seoul after South Korea's president sprang 6 hours of martial law on his people
▼ + stars: | 2024-12-04 | by ( Matthew Loh | ) www.businessinsider.com time to read: +13 min

South Korea's president, Yoon Suk-yeol, shocked the nation on Tuesday evening by declaring martial law. AdvertisementThe last time martial law was declared in South Korea was in 1980, when a military dictatorship took over. 12 a.m. — Martial law forces reach the complexAs the National Assembly started to meet its quorum requirement, the first of the martial law forces arrived outside. Related stories12:48 a.m. — Lawmakers vote to lift martial lawLed by Woo, the National Assembly officially began the vote on reversing martial law. 4:40 a.m. — Martial law is lifted and troops withdrawYoon's martial law was officially rescinded by an emergency Cabinet meeting, and dispatched forces returned to their bases.

Persons: Yoon Suk, yeol, Yoon, — Yoon, Kim Hongmin, Kim, Han Dong, Han, Chris Jung, Yonhap, Lee Jae, Myung, mobilizes, Lee, Kim Hong, Woo Won, Woo, Park Jie, Park, Chung Sung, —, Lee Tae, Daniel Ceng, Ellen Kim, Yun, Donald Trump, Yoon's Organizations: Assembly, North Korean, Democratic Party, People Power Party, Getty, National Assembly, Lawmakers, Protesters, Police, —, South Korean, — Troops, Democratic Party's, REUTERS, Korean, Soldiers, South, Park, National, Center for Strategic, International Studies, CSIS Locations: Seoul, Republic of Korea, Korean, Hongdae, South Korea, Yeouido, South, Gwangju, South Korea's, —, Anadolu, Korea, YONHAP, Ukraine, Gwanghwamun

Victory, but no mandateMr. Yoon, a conservative leader, has never been popular in South Korea. The vote, analysts said, was more a referendum on his liberal predecessor’s failures than an endorsement of Mr. Yoon. “Peace is meaningless unless it is backed by power,” Mr. Yoon said during the campaign. An election fueled by vitriolMr. Yoon’s party had seen the 2024 elections as an opportunity to win back the chamber. “I call on the National Assembly,” he said, “to immediately stop the outrageous behavior that is paralyzing the functioning of the country with impeachments, legislative manipulation and budget manipulation.”Image Police officers by the National Assembly.

Persons: Yoon Suk Yeol, Yoon’s, —, Yoon, Lee Jae, myung, “, ”, Chang W, Lee, hye, Moon Jae, Kim Jong, Mr, Biden, Michael Park, Doctors, Marie Antoinette, Cho Kuk Organizations: South Korea’s, South, New York Times, Samsung, North, The New York Times, Democratic Party, National Assembly, North Korea ramped, North Korean, ., New York, Mr, Police, National Assembly . Credit Locations: Seoul, South Korea, Korea, U.S, Asia, Washington, China, South Korean, North Korea, churchgoers, Japan

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