South Korean President Yoon arrested over martial law- local media

Investing.com– Impeached South Korean President Yoon Suk Yeol was arrested by authorities on Wednesday following a botched attempt to impose military law in the country in late-2024, local media reports showed. 

Reports said that investigators had entered Yoon’s Presidential compound in their second attempt this month to carry out an arrest warrant, and had successfully apprehended the impeached president. 

Yoon will now be tried on charges of insurrection, after unsuccessfully attempting to impose martial law in December. The move was widely opposed by citizens and policymakers, sparking nationwide protests and calls for Yoon’s removal.

Deputy Prime Minister Choi Sang-mok assumed the role of acting President after South Korea’s parliament voted to impeach Yoon. 

South Korean markets- which were rattled by the political scandal in December- firmed on the prospect of some stability after Yoon’s arrest. The benchmark KOSPI index added 0.5% on Wednesday, while the won’s USD/KRW pair was flat.