December 3, 2024
South Korean President Yoon Suk Yeol announced the imposition of martial law on Tuesday during a live emergency national address. The move, he stated, was aimed at safeguarding the nation’s freedom and constitutional order amid what he described as efforts by the opposition to undermine his administration through impeachment attempts.
“This declaration of martial law is necessary to rebuild and protect a free South Korea,” Yoon declared, calling the decision “unavoidable.”
Following the announcement, South Korea’s defense minister convened an urgent meeting with the country’s top military commanders, as reported by Yonhap News.
The financial markets reacted swiftly to the news, with the South Korean won plummeting to 1,427.10 against the U.S. dollar—its weakest level in over two years.