Geopolitics:S. Korea ruling party leader says Pres. Yoon needs to be suspended from office

Geopolitical news:

• S. Koreas Ruling Party leader Han Dong-Hoon says Pres. Yoon needs to be suspended from his office as soon as possible.
• Yoon ordered to arrest prominent politicians over grounds they are antistate forces.

Yesterday, South Korea’s opposition parties moved to impeach President Yoon Suk Yeol over his brief declaration of martial law, which involved armed troops surrounding parliament.

To remove him, the impeachment motion requires two-thirds approval in parliament and endorsement by six of nine Constitutional Court justices.

A vote on the motion could happen as early as Friday.

The USDKRW moved higher on Tuesday (lower KRW) but stalled just short of the highs from 2022. The high prices September and October 2022 stalled at 1444.35 to 1445.86. The high price on Tuesday extended to 1442.95 before returning back to the downside. The current prices at 1413.70. There is close support at 1410.58 and again at 1397.75 (swing highs in 2024).

This article was written by Greg Michalowski at www.forexlive.com.