{"id":55589,"date":"2025-01-03T03:11:24","date_gmt":"2025-01-03T03:11:24","guid":{"rendered":"https:\/\/innodebt.com\/?p=55589"},"modified":"2025-01-03T03:11:24","modified_gmt":"2025-01-03T03:11:24","slug":"stand-off-in-south-korea-as-investigators-try-to-arrest-impeached-president","status":"publish","type":"post","link":"https:\/\/innodebt.com\/?p=55589","title":{"rendered":"Stand-off in South Korea as investigators try to arrest impeached president"},"content":{"rendered":"<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=fd87d24c-d13a-4d64-90be-0cc23c47be13\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>South Korean investigators are attempting to arrest President Yoon Suk Yeol as part of a probe into alleged treason and abuse of power after his failed attempt last month to impose martial law.<\/p>\n<p>About 30 investigators from the Corruption Investigation Office for High-ranking Officials and 120 police officers entered Yoon\u2019s residence in central Seoul early on Friday, said the state-run Yonhap News Agency. The head of the Presidential Security Service was not allowing investigators and police to search Yoon\u2019s residence, it added.<\/p>\n<p>Hundreds of Yoon\u2019s supporters rallied outside his residence, shouting \u201cimpeachment invalid\u201d and \u201cprotect Yoon\u201d.<\/p>\n<p>If arrested, Yoon will be the first incumbent South Korean president to be detained.<\/p>\n<p>Yoon unleashed an acute political crisis in South Korea with his failed effort to impose martial law. He was impeached by parliament last month, but the move has to be approved by the country\u2019s Constitutional Court.<\/p>\n<p>The independent anti-corruption agency is expected to question Yoon over possible insurrection after he allegedly dispatched troops to the National Assembly in an attempt to prevent lawmakers from rejecting his shortlived martial law decree.<\/p>\n<p>Yoon\u2019s lawyers said on Friday that the agency\u2019s attempt to arrest the president was \u201cillegal and invalid\u201d and they would take legal action against the move.<\/p>\n<p>A court issued the arrest warrant this week after Yoon refused to answer repeated summons for questioning. If arrested, he will be questioned by investigators and stay at a detention centre for two days before the anti-corruption agency either releases him or charges him for treason.<\/p>\n<p>Yoon on Wednesday sent a letter to hundreds of his supporters rallying outside his residence. \u201cThe country is in jeopardy due to anti-state forces. I\u2019ll fight until the end to protect the nation together with you,\u201d he wrote.<\/p>\n<p>The \u201claw should apply equally to everyone,\u201d said Lee Jae-myung, leader of the opposition Democratic party, on Friday. \u201cNot all people should be sacrificed because of someone\u2019s egotism or a group\u2019s<br \/>special interests.\u201d<\/p>\n<p>Under South Korea\u2019s constitution, the president is immune from criminal prosecution, except when facing allegations of rebellion or treason. Acting president Choi Sang-mok on Tuesday appointed two justices to the Constitutional Court, filling two of the vacancies on the nine-member bench.<\/p>\n<p>The court\u2019s eight sitting justices will hold a second hearing on Friday on whether to remove Yoon from office. The court has until June to reach a verdict, though this deadline can be extended. A minimum six votes are required to approve Yoon\u2019s impeachment. If he is removed from office, a presidential election must be held within 60 days.<\/p>\n<p>The political turmoil has weighed on the South Korean economy, which is facing the prospect of higher US tariffs from Donald Trump\u2019s second term in the White House. The government on Thursday revised down this year\u2019s growth forecast to 1.8 per cent from 2.2 per cent and is considering drawing up an extra budget to boost sluggish domestic consumption.<\/p>\n<p>Choi on Friday ordered officials to take measures to stabilise financial markets \u201cswiftly and boldly\u201d in case of heightened volatility.<\/p>\n<p>He said he would continue to meet high-ranking financial officials including Bank of Korea governor Rhee Chang-yong every week to monitor market conditions. Rhee on Thursday warned of growing downside risks for the South Korean economy and said the bank would be \u201cflexible\u201d with the pace of interest rate cuts in the face of \u201cunprecedented\u201d political and economic uncertainties.<\/p>\n<p>South Korea\u2019s stocks and currency were among the worst performers in Asia last year, in part because of the political chaos, with the Kospi stock index down nearly 10 per cent and the won trading near its lowest level since 2009. The Kospi was trading up 1. 7 per cent on Friday morning. <\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/fd87d24c-d13a-4d64-90be-0cc23c47be13\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. South Korean investigators are attempting to arrest President Yoon Suk Yeol as part of a probe into alleged treason and abuse of power after his failed attempt last month to impose martial law. About 30 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":55590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-55589","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stand-off in South Korea as investigators try to arrest impeached president | Innodebt<\/title>\n<meta name=\"description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.South Korean investigators are\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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