Bloomberg Daybreak: Asia Edition South Korea's Yoon Suk Yeol Impeached
Dec 16, 2024
Join Sam Kim, a Bloomberg EcoGov reporter, as he unpacks the shocking impeachment of South Korean President Yoon Suk-yeol and the implications for Prime Minister Han Dook-soo. Eric Sterner, Chief Investment Officer at Apollon Wealth Management, shares keen insights on the Fed's rate decisions, inflation metrics, and the shifting market landscape. Together, they discuss investor confidence challenges, the potential impact on governance, and investment strategies favoring smaller stocks amidst economic uncertainty.
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Impeachment in South Korea
- South Korean President Yoon Suk Yeol was impeached, and Prime Minister Han Dook-soo became acting president.
- The Constitutional Court has 180 days to decide whether to reinstate Yoon or uphold the impeachment.
Constitutional Court's Decision
- The Constitutional Court needs six judges to agree on the impeachment motion.
- Previous impeachments saw varying outcomes, with one president reinstated and another ousted.
Potential Next President
- If the impeachment is upheld, opposition leader Lee Jae-myung is currently favored in polls to become the next president.
- He leads significantly over the ruling party's Han Dong-un.