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Indegene Limited Share Price ✌️【Value Investing】✌️ Real-time stock and futures data, backed by expert stock market trend predictions, to help you make timely and profitable investment decisions. South KoreanPresident Yoon Suk Yeol’s cabinet has reversed a martial law order in the country, just hours after he issued the surprise decree that plunged Seoul into political uncertainty and sparked fierce backlash from lawmakers across the political spectrum.

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“The president must directly and thoroughly explain this tragic situation,” he added. “The minister of defense, who recommended this martial law, should be immediately dismissed, and all those responsible must be held strictly accountable.”

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Yoon had declared martial law in a surprise late-night address on Tuesday, reviving memories of a morepainful, authoritarian pastas troopsattempted to enterthe main hall of the National Assembly and people against the measure gathered outside following his announcement.

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Lawmakers worked swiftly to block the martial law decree in the hours after Yoon’s declaration, with 190 of the 300 members of parliament voting to overturn the measure.

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“To safeguard a liberal South Korea from the threats posed by North Korea’s communist forces and to eliminate anti-state elements… I hereby declare emergency martial law,” Yoon said in the address.

He described martial law as a necessary measure to eradicate these “shameless pro-North anti-state forces,” justifying the decision as essential to protect the freedoms and safety of the people, ensure the country’s sustainability, and pass on a stable nation to future generations.

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Citing the same document, Reuters reported that “strikes, work stoppages and rallies that incite social chaos” are also prohibited. That includes doctors who had been engaged in a walkout; they have been ordered by the decree to return to work within 48 hours.

Just after 1 a.m. in Seoul on Wednesday morning (11 a.m. ET Tuesday), dozens of troops who had entered the main parliamentary building prior to the vote were seen withdrawing, according to Korean newspaper Chosun Ilbo and local television stations.

Citizens waiting outside the building cheered when news came of the lawmakers’ vote, according to Chosun Ilbo – with some shouting, “Long live the Republic of Korea!” and “Yoon Suk-yeol, step down!”

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“Walking through the streets, there are people who are running to their families’ homes to be with them, to figure out what to do, to be close to loved ones in this moment that is unprecedented in so many of our memories,” Mike Valerio reported from Seoul.

People were told by law enforcement that they could be arrested without warrants being needed under martial law, Valerio added.

“There are whole multitudes of people across (Seoul) who are stunned and are trying to figure out how an unpopular president made this move, what is going to happen next, and what this means for a democracy here in South Korea,” he said.

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“We request the National Assembly to immediately stop its reckless actions that paralyze the functions of the state through repeated impeachment, legislative manipulation, and budget manipulation,” he said.

Yoon, representing the conservative People Power Party, has served as president of South Korea since 2022. He won the election by a razor-thin margin, pulling ahead of rival Lee by less than one percentage point.

Yoon was a newcomer to politics, having spent the previous 27 years of his career as a prosecutor. Since taking office – succeeding the liberal President Moon Jae-in – he has faced a raft of challenges, from the perma-threat of North Korea to rising tensions between South Korea’s major partners, the US and China – as well as plummeting birth rates.

He has long taken a tough stance on North Korea, a shift from his predecessor, Moon, who favored dialogue and peaceful reconciliation. Yoon lambasted this approach as “subservient.” Yoon instead promised to bulk up South Korea’s military, even hinting he would launch a pre-emptive strike if he saw signs of an offensive launch against Seoul.

But he has faced political battles at home, sparring with the opposition Democratic Party, which has repeatedly impeached ministers and frustrated the government’s fiscal plans.

Yoon has seen his popularity ratings plunge since he took office – thanks to a series of scandals and controversies that even promptedhundreds of thousandsto call for his impeachment.

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“The administration is in contact with the ROK government and is monitoring the situation closely as we work to learn more. The US was not notified in advance of this announcement. We are seriously concerned by the developments we are seeing on the ground in the ROK,” the spokesperson said.

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【 - Free Consultation 】’s Gawon Bae, Christian Edwards, Jessie Yeung, Jerome Taylor, Paula Hancocks, Jennifer Hansler and Hanna Park contributed reporting.

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