XRP surges in South Korea, Won tanks as parliament votes to impeach President Yoon Suk Yeol
Home » News » XRP surges in South Korea, Won tanks as parliament votes to impeach President Yoon Suk Yeol
KRWXRP
XRP surges in South Korea, Won tanks as parliament votes to impeach President Yoon Suk Yeol
By Florence Muchai
Updated: December 14 2024 4:18 PM UTC
3 mins read
XRP surges in South Korea, Won tanks as parliament votes to impeach President Yoon Suk Yeol
Contents
1. Crypto market reactions and economic concerns
2. South Koreans “okay” with President’s impeachment
Share link:
In this post:
South Korea’s National Assembly voted to impeach President Yoon Suk Yeol over his controversial martial law attempt.
The South Korean won weakened after the impeachment vote, with XRP seeing a small uptick despite broader economic challenges and inflation pressures.
Public support for Yoon’s impeachment grew, with protests calling for his resignation coming from opposition leaders and the general public.
South Korea’s National Assembly voted to impeach President Yoon Suk Yeol on Saturday, which intensified the nation’s political uncertainty and tanked the national currency. The move comes after Yoon’s controversial attempt to impose martial law in early December, which opposition leaders condemned as a threat to democratic order.
According to the Financial Times, opposition leader Lee Jae-Myung successfully rallied lawmakers to support the impeachment, framing it as essential to restoring stability in the wake of Yoon’s failed martial law declaration.
The impeachment motion passed decisively, with a 204-85 vote in the 300-seat National Assembly. Opposition parties hold a legislative majority and needed only minimal support from Yoon’s conservative People Power Party (PPP) to meet the required two-thirds threshold$BTC