South Korean President Yoon declares martial law:
- Says through martial law he will rebuild a free and democratic country
- Government administration has been paralyzed because of opposition party conducts
- Says he will eradicate pro-North forces and protect constitutional order
What is going on in South Korea? It’s 10:40 pm there and this was an unannounced broadcast.
South Korea’s main opposition Democratic Party called lawmakers into parliament. Yoon took office in 2022 but has struggled to push is agenda against an opposition-controlled parliament.
The Japanese yen is stronger on this and the US dollar climbed to a two-year high against the Korean won.
This seemingly came out of nowhere and Treasuries are bid now.
Opposition leader Lee Jae-myung said “Yoon declared martial law illegally and unconstitutionally against the people”.
This article was written by Adam Button at www.forexlive.com.
