Source: Securities Times
According to CCTV reports, on December 3rd local time, due to intensified domestic political disputes, South Korean President Yoon Seok-yeol announced "emergency martial law."
South Korean Army General Park Ansu has been appointed as the martial law commander. The South Korean martial law command announced that political activities such as political associations, assemblies, and demonstrations are prohibited, and all media and publishing activities are subject to the control of the martial law command. Violators of martial law can be arrested without an arrest warrant.
It is worth noting that Yoon Seok-yeol listed a number of reasons, saying that the opposition party was manipulating the parliament and disrupting the country, and that he would eliminate "anti-national forces" in South Korea.
Lee Jae-myung, the leader of the largest opposition party in South Korea, called on the Korean people to go to the National Assembly to protect it. It is reported that most of the South Korean National Assembly members and the speaker of the National Assembly are going to the National Assembly. However, the latest news shows that the entrances and exits of the South Korean National Assembly are closed and the members of the National Assembly cannot pass through.
The latest news shows that there were clashes in front of the South Korean National Assembly, and the crowd trying to enter the National Assembly was confronting the police.
In addition, Han Dong-hoon, representative of South Korea's ruling party, said that President Yoon Seok-yeol's declaration of "emergency martial law" was wrong and said that "we will work with the people to stop it."
In addition, the South Korean Ministry of Defense convened a meeting of all military commanders to strengthen alert. Subsequently, the South Korean military announced that it would prohibit activities in parliament and political parties.
South Korea's Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok convened an emergency meeting on martial law. South Korea's National Police Agency chief convened an emergency cadre meeting. South Korea's Ministry of Foreign Affairs convened an emergency meeting to discuss martial law-related matters.
Outside analysts believe that the recent series of legislation pushed by South Korea's opposition parties against the president's wife and the impeachment of prosecutors and other public officials may be the fuse for Yoon Seok-yeol's declaration of "emergency martial law."
In the capital market, gold rose in the short term, and the South Korean ETF-Ishares MSCI plunged sharply. In addition, Samsung Electronics in the London market also plunged sharply. South Korean steelmaker Posco ADR fell 4.9% in pre-market trading in the United States.
In addition, the Korean cryptocurrency market collectively plunged, with Upbit's Bitcoin falling by as much as 30% to $66,500, and XRP dropping by 60% from $2.9 to $1.16.
The exchange rate of the Korean won against the US dollar also plunged instantly, falling by more than 1%.
South Korean central bank officials said that if necessary, they will release information after the meeting and are ready to take adequate measures to stabilize the market.
