One analyst told CNBC if Yoon is quickly impeached or resigns, this could “draw a line” under the matter.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribein a vote of no confidence on Wednesday. A total of 331 lawmakers from both the leftwing New Popular Front alliance and the far-right National Rally supported a no-confidence motion in the country's lower house, far exceeding the 288 votes needed to pass the motion.
It was the summer of 2016. Protests were being held at Ewha Womans University, one of Seoul's most prestigious universities and the country's top women's college, over the school administration's plan to introduce a new degree program.Eight years later, another South Korean president is on the verge of impeachment. But unlike 2016, the backlash from the South Korean public and lawmakers was swift this time.
Just hours following the announcement, South Koreans saw scenes of parliamentary staffers attempting to bar armed troops from the country's parliament using fire extinguishers; protesters clashing with police; and even athat even if one keeps aside the turmoil in the government, South Korea's economy is"not that well positioned in a global economic slowdown," and that the semiconductor and auto sectors, which are key industries in the country, are facing a potential downturn...
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