A tv display screen reveals a information broadcasting of South Korean President Yoon Suk Yeol delivering a speech on emergency martial legislation, in Goyang, northwest of Seoul, on December 3, 2024.
Jung Yeon-je | Afp | Getty Photos
South Korea’s won on Tuesday fell sharply towards the U.S. greenback shortly after President Yoon Suk Yeol declared a state of emergency.
The U.S. dollar was final seen buying and selling up 1.9% towards the received, which notched a recent two-year low on the information.
Talking throughout an unannounced televised briefing, South Korea’s Yoon accused opposition lawmakers of controlling the parliament and throwing the nation right into a political disaster.
It wasn’t instantly clear how the emergency measure would affect the nation’s governance and democracy over the approaching weeks.
The MSCI South Korea ETF fell greater than 4% on the information, notching a brand new 52-week low, whereas the Franklin FTSE in South Korea slipped 3%.
U.S.-listed shares of Korean-based corporations have been additionally decrease. Shares of Coupang and Posco Holdings have been each off round 6%, whereas KT Corp and KB Financial slipped 3% and 1%, respectively.
Yoon assumed workplace in Could 2022 shortly after profitable the presidential election by the narrowest margin within the nation’s historical past.
His international coverage stance has been dominated by a hardline stance on North Korea, whereas in search of to strengthen ties with the U.S. and Japan.
It is a breaking information story, please examine again later for extra.
