S Korea’s Constitutional Court Upholds Yoon’s Impeachment, Elections Expected by June

By Staff, Agencies

In a landmark 8-0 ruling, South Korea’s Constitutional Court on Friday upheld the impeachment of President Yoon Suk-yeol, who had declared martial law on December 3, 2024.

The court’s decision triggers a 60-day window for new presidential elections, which must now be held on or before June 3. However, political uncertainty is expected to linger.

In a separate but equally significant move, the Supreme Court overturned the impeachment of Prime Minister Han Duck-soo, reinstating him as acting president.

Han initially stepped in as interim leader after Yoon’s impeachment on December 14, but was later impeached by the opposition over alleged collaboration with Yoon.

With the Supreme Court’s unanimous decision, Han will continue serving as acting president until the new election.

While the Supreme Court’s verdict may offer some short-term stability, the path ahead is far from smooth.

The country now faces elections amid a challenging economic climate, exacerbated by the Trump administration’s recent imposition of sweeping tariffs.

Under the new “reciprocal” trade policy, the US will impose a blanket 25% tariff on all South Korean imports, alongside targeted levies on autos and steel/aluminum.

Economic pressures are already being felt. The Bank of Korea has downgraded its 2025 growth forecast from 1.9% to 1.5%, citing both domestic political instability and global trade headwinds.

The central bank highlighted waning consumer confidence, faltering demand, and rising protectionism as major concerns.

According to polling data from Gallup, the opposition Democratic Party [DP], led by Lee Jae-myung, currently holds an edge over the ruling People Power Party [PPP], which has yet to name its presidential candidate.

Despite his party’s lead, Lee is himself embroiled in a corruption trial, further complicating the political landscape.

Analysts at Morningstar DBRS noted that while South Korea’s institutional response to the crisis has been swift and resilient, the extended political turmoil has hurt both business sentiment and investment. The agency emphasized that the next administration’s priority will likely be steering the economy through mounting global protectionism and restoring domestic confidence.

Acting President Han is expected to announce the election date in the coming weeks, as South Korea prepares for a pivotal moment in its political and economic trajectory.