The detainment of South Korean president Yoon Suk Yeol and the start of the Constitutional Court’s hearings on his impeachment are important steps to resolving the political crisis that has engulfed the world’s 13th largest economy for the last six weeks.
Despite the lack of a new president for another six months (at best), Korea’s economic institutions and bullish experts counsel against panic. This is South Korea’s third impeachment case in the last two decades, after all, suggesting that economic markets, foreign investment and currency rates could perhaps make it through a political crisis with little long-term damage.
