President Yoon Suk Yeol's abrupt declaration of martial law, which he later rescinded, has incited serious calls for his resignation from lawmakers who see it as an abuse of power. The situation highlights the deepening political crisis that can arise when leaders take drastic measures without broad consensus.
The U.S. government's stance on the South Korean political crisis is clear, expressing 'grave concern' over President Yoon's martial law declaration. This foreign reaction underscores the international implications of domestic political decisions in South Korea.
Protesters have now taken to the streets, celebrating around the parliament building, a clear demonstration against Yoon's earlier authoritarian measures. The public's response showcases rising civic engagement and opposition to perceived government overreach.
In response to market fears triggered by the political chaos, the South Korean government has promised 'unlimited liquidity' to stabilize financial markets, indicating the economic ramifications of the political uncertainty.
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