Impeached South Korean President Arrested Amid Martial Law Controversy

Former South Korean President Yoon Suk Yeol has been arrested following a controversial attempt to impose martial law last month. Yoon, who was impeached in December, was taken from his residence on January 15 by the Corruption Investigation Office (CIO) after failing to comply with three investigative hearings. The arrest, carried out at 10:33 a.m. local time, came after South Korea’s legislature swiftly overruled his martial law declaration on December 3 and formally impeached him on December 14. According to Yonhap News Agency, Yoon’s arrest warrant —authorized by a coalition of the National Police Agency, the CIO, and the Defense Ministry’s Criminal Investigation Command—is valid for seven days but may be extended. Amid this political turbulence, Deputy Prime Minister and Finance Minister Choi Sang-mok has stepped in as acting president. Choi now faces the daunting task of stabilizing a nation grappling with both political upheaval and economic ripples in the wake of Yoon’s actions. Crypto Market Rocked by Martial Law Declaration Yoon’s December martial law declaration sent shockwaves beyond the political sphere, significantly impacting South Korea’s cryptocurrency market. On the day of his announcement, Bitcoin prices on local exchanges such as UpBit nosedived by as much as $30,000 within six hours. This political turmoil coincided with a period of heightened activity in the crypto market . High-momentum altcoins, including XRP, Dogecoin, and Stellar, had been experiencing a surge in retail trading just before the martial law decree. Yoon’s actions not only disrupted the political landscape but also exposed the vulnerability of South Korea’s financial markets to abrupt policy shifts. The fallout underscores the importance of political stability in maintaining investor confidence, especially in a country where cryptocurrency adoption is among the highest globally. Future Uncertainty Amid Leadership Transition As the investigation into Yoon’s actions continues, South Korea remains in a state of uncertainty. The acting president, Choi, must now navigate a delicate balancing act: restoring political order while addressing the market disruptions triggered by Yoon’s short-lived martial law. The arrest marks a historic moment in South Korean politics, further highlighting the risks of intertwining governance with volatile financial markets. Observers are closely watching how this unfolding crisis will shape the nation’s political and economic future. The post Impeached South Korean President Arrested Amid Martial Law Controversy appeared first on TheCoinrise.com .