South Korean opposition presents impeachment bill for Yoon

Six opposition parties in South Korea on Wednesday submitted a bill to impeach President Yoon Suk Yeol following the latter's attempt to impose martial law on the country.

President Yoon declared martial law in a television address late on Tuesday, accusing "anti-state" forces of impeding his government and of sympathizing with North Korea.

But he backtracked just a few hours later after opposition lawmakers physically fought past police officers and soldiers to get into the National Assembly and vote unanimously on a motion to overrule him.

Martial law was formally lifted around 4:30 a.m. during a Cabinet meeting but, as day broke on a cold, sunny Wednesday morning in Seoul, the calls were already growing for Yoon to resign.

Defense minister resigns, new candidate nominated

Later on Wednesday, Defense Minister Kim Yong-hyun offered his resignation over the turmoil.

"First, I deeply regret and take full responsibility for the confusion and concern caused to the public regarding the martial law... I have taken full responsibility for all matters related to the martial law and have submitted my resignation to the president," Kim said in a statement.

Yoon accepted Kim's resignation and nominated his ambassador to Saudi Arabia, Choi Byung-hyuk as the new defense chief.

"Today, the President accepted the resignation of Minister of National Defence Kim Yong-hyun and approved his dismissal, and nominated Ambassador to Saudi Arabia Choi Byung-hyuk as the new ministerial candidate," Yoon's office said.

What has the opposition said?

"We've submitted an impeachment motion prepared urgently," representatives for six opposition parties including the main Democratic Party said at a live press briefing. They added that a vote could come as soon as Friday.

The Democratic Party also said it intends to file "charges of insurrection" against Yoon, his ministers and "key military and police figures involved, such as the martial law commander and the police chief."

The leader of Yoon's own People Power Party (PPP) called for him to be kicked out of the organization and for the defense minister and the entire cabinet to resign.

According to National Assembly officials, 18 members of the ruling PPP were among the 190 lawmakers who cast ballots in the midnight vote to reverse the martial law order.

Yoon is yet to make any public response but, according to the local Chosun Ilbo newspaper citing sources close to the PPP, senior presidential advisers and secretaries have offered to resign en masse.

Have there been any reactions from abroad?

Elsewhere, US Secretary of State Antony Blinken welcomed Yoon's decision to rescind the martial law order, saying he expected "political disagreements to be resolved peacefully and in accordance with the rule of law."

Around 30,000 US troops are stationed in South Korea to help guard against any threat from nuclear-armed North Korea, with whom the South is still technically at war.

Later on Tuesday evening in the US, Joe Biden's National Security Advisor Jake Sullivan said Yoon's sudden decision had "raised deep concern for us" and said that Seoul had not consulted the US beforehand. 

"South Korea's democracy is robust and resilient," Sullivan said, "and we're going to continue to speak out publicly and engage privately with South Korean counterparts to reinforce the importance of that continuing." 

Swedish Prime Minister Ulf Kristersson also postponed a planned visit to South Korea.

How have the markets reacted?

Meanwhile, the South Korean finance ministry was battling to contain the economic damage done by the overnight political drama which saw the won temporarily plummet to a two-year low against the dollar.

"All financial, FX markets as well as stock markets will operate normally," the government insisted in a statement after Finance Minister Choi Sang-mok and Bank of Korea Governor Rhee Chang-yong held emergency overnight talks.

"We will inject unlimited liquidity into stocks, bonds, the short-term money market as well as the forex market until they are fully normalized," the statement continued.

South Korea's financial regulator added that it had a ten-trillion-won ($7 billion, €6.7 billion) stock market stabilization fund ready at any time.

Will the military face any consequences?

Back at the National Assembly, the parliament's secretary general has banned the military and police force from entering the institution and promised that troops will be held "legally responsible" for any "physical damage and illegal acts" carried out during the six hours of martial law.

According to South Korean broadcaster MBC, he said that around 230 armed soldiers had entered the National Assembly grounds via at least 24 helicopter lifts.

mf, jsi/rc (AFP, Reuters, dpa)