In South Korean politics, the confrontation between Yoon Suk-yeol and Lee Jae-myung has become the most eye-catching political drama in recent years.
On December 3, 2024, South Korean President Yoon Suk-yeol suddenly announced the implementation of 'emergency martial law,' a decision that not only shocked the South Korean political scene but also triggered a severe constitutional crisis.
Of course, as always, it is the cryptocurrency investors who are hurt; the price of Bitcoin on Upbit, South Korea's largest trading platform, once plunged to $65,000.
So, the question arises, why did Yoon Suk-yeol suddenly declare martial law?
The direct reason Yoon Suk-yeol announced martial law was to 'maintain the order of free constitutional governance,' accusing the opposition of 'coercing the National Assembly and disrupting the nation,' asserting the need to protect the Republic of Korea from the threat of North Korean communist forces and to eliminate pro-North and anti-state forces.
Who does he refer to as the enemy?
That is Yoon Suk-yeol's lifelong political enemy—Lee Jae-myung.
In South Korean politics, the confrontation between Yoon Suk-yeol and Lee Jae-myung has become the most eye-catching political drama in recent years. This feud, which began in the prosecution system, continued into the presidential election, and ultimately evolved into judicial accountability, is not only a personal struggle between the two political figures but also reflects the deep divisions within South Korean society.
In 2019, then Prosecutor General Yoon Suk-yeol began a series of investigations into the ruling Democratic Party. At that time, Lee Jae-myung, who was serving as the governor of Gyeonggi Province, also became one of the subjects of the investigation. This confrontation peaked during the 2022 presidential election, where the two engaged in fierce exchanges, exposing scandals involving each other's families and spouses. Ultimately, Yoon Suk-yeol won by a narrow margin and took office at the Blue House.
Although Lee Jae-myung narrowly lost to Yoon Suk-yeol in the 2022 presidential election, his political influence has not diminished as a result.
The dramatic turn of events in 2023 added more fuel to this feud. In March, Lee Jae-myung was charged with multiple offenses, including corruption in urban development, illegal remittances to North Korea, and perjury during the election. By September, he was formally arrested, triggering strong protests from his supporters.
Supporters of Lee Jae-myung believe this is Yoon Suk-yeol's blatant political retaliation. The ruling party insists that it is acting according to the law, emphasizing the independence and necessity of judicial procedures. This controversy quickly evolved into a nationwide political crisis, sparking waves of protests on the streets of Seoul.
Why does Lee Jae-myung, despite being embroiled in multiple lawsuits, still receive considerable public support?
One must mention Lee Jae-myung's life; his rise can be likened to the 'American Dream' in Korea.
Coming from a poor background, his father was an ordinary miner, and the family was not wealthy. What is more noteworthy is that he did not possess the illustrious educational background typical of most South Korean political elites; instead, he successfully obtained a lawyer's qualification through self-study and emerged in the field of human rights.
Before entering the national political arena, Lee Jae-myung demonstrated exceptional governance capabilities while working in local government. During his tenure as mayor of Seongnam and governor of Gyeonggi Province, he implemented a series of beneficial policies and established a solid reputation for performance.
In terms of communication, Lee Jae-myung shares daily updates on Twitter, YouTube, and Instagram, using a straightforward and relatable language style that effectively combines his personal political views with social hot topics. This method of communication is particularly popular among young voters, helping him break the stereotype of traditional politicians.
At this point, are you reminded of someone? Someone similarly embroiled in lawsuits yet beloved by the public. That's right, it's Trump; many people compare Lee Jae-myung to South Korea's Trump. As the leader of the largest opposition party, the Democratic Party, Lee Jae-myung, who is burdened with five criminal cases, is still viewed as a strong contender for the 2027 South Korean presidential seat.
Recently, a South Korean media outlet published an opinion piece titled (Can Lee Jae-myung Become Trump?), suggesting that the elected president Trump could provide some comfort to Lee Jae-myung, as the former faced multiple criminal cases yet still won the election. The article pointed out that in modern elections, American voters seem to increasingly disregard values such as morality and justice, and the same is true in South Korea.
On November 25, Lee Jae-myung was acquitted in the 'incitement to perjury' case during the first trial at the Seoul Central District Court.
On the weekend before the verdict, November 23, near Gwanghwamun in Seoul, supporters of the 'progressive' and 'conservative' factions staged a counter-performance. The 'progressive' rally demanded 'President Yoon Suk-yeol's resignation,' while the 'conservative' rally called for 'the arrest of Lee Jae-myung.' The two sides were less than a kilometer apart, with over ten thousand people attending the rallies.
At the same time, the current president Yoon Suk-yeol's approval rating has fallen to just 17%, hitting a historic low.
Although the South Korean government has always been questioned due to corruption rumors, it is extremely rare for approval ratings to fall below 20%. This indicates that the president has almost lost effective control over the government.
On the contrary, after being charged and arrested, Lee Jae-myung not only did not lose public support but actually gained more sympathy and support due to the narrative of 'political persecution.'
South Korean crypto investor @Yusoff Kim believes that although the official statement mentions 'national security' as the main reason, many people think this move is more about consolidating the president's power in the current crisis.
Regarding Yoon Suk-yeol's declaration of martial law, Lee Jae-myung stated that President Yoon's illegal declaration of martial law is invalid, and from now on, Yoon Suk-yeol is no longer the president of the Republic of Korea. He also urged the South Korean people to go to the National Assembly to protect it.
The impact of this political struggle extends far beyond personal grievances. It deepens the divide between South Korea's conservatives and progressives and exposes many controversial issues within the country's democratic system. The conservative People Power Party, represented by Yoon Suk-yeol, and the progressive Democratic Party led by Lee Jae-myung have fundamental differences in political ideology and national development paths.
Contemporary South Korean society has fallen into deeper division due to this ongoing political dispute. The judicial process of the Lee Jae-myung case is still ongoing, but its political impact has already surpassed the courtroom, becoming a litmus test for South Korea's political civilization and social stability.