opposition files impeachment motion against President Yoon

Political crisis causes Seoul stock market to plunge

The Seoul Stock Exchange closed this Wednesday down 1.4%, after dropping more than 2% during the session, undermined by political uncertainty in South Korea, reports theAFP. Heavyweight of the rating, Samsung Electronics ended down 0.93% after dropping up to 3% during trading.

In order to stem any contagion from the crisis, the South Korean central bank and the Ministry of Finance worked together to reassure the markets, promising to inject “sufficient liquidity until the financial markets and the market exchange rates are stabilizing.”