Date first published: 12/12/2024
Key sectors: all
Key risks: political instability; polarisation; civil unrest; governance risks
Risk development
On 3 December President Yoon Suk-yeol declared martial law, announcing that the country and its government had been “paralysed by pro-North Korean, anti-state forces”. The declaration banned demonstrations and all political activities, including those of the National Assembly – with the exclusive exception of parliamentary voting on whether to uphold the implementation of martial law. Online videos showed politicians scuffling with special forces troops deployed to prevent lawmakers from entering parliament as MPs scrambled to prevent the martial law order. The 190 MPs present unanimously voted against the motion, with even the leader of Yoon’s ruling People Power Party (PPP), Han Dong-hoon, describing the attempt as “unconstitutional and wrong”. Massive protests swiftly took place in front of the National Assembly, although they remained largely peaceful with no injuries reported. After six hours, reports emerged that Yoon had agreed to lift the martial law order, with the military withdrawing from government buildings shortly after.
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