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To be honest, I don't think there is much to this news, but it triggered a sudden jump in the Dollar to KRW exchange rate.
Will post here in case anything trustworthy comes up.
I think this rumor is mostly in anticipation of the vote today about the possible impeachment of President Yoon following his first martial law declaration.
Google translation of the article in Korean:
It has been revealed that multiple Army units have restricted the vacations of military commanders until the 8th, saying, "There may be an emergency call-up of commanders."
The Center for Military Human Rights held an emergency press conference on the morning of the 6th titled, "Second Martial Law Suspicion Circumstances Captured," and stated, "There are reports of unusual signs in the Army."
According to the Military Human Rights Center, multiple units issued instructions on the morning of the 4th to "normalize all soldiers' leave
" in accordance with the instructions of higher-level units, and instructed commanders above company commander to prepare for an emergency call-up. The Military Human Rights Center pointed out that "allowing regular soldiers to take leave while controlling commanders' leave is a very dangerous sign," and "the fact that the deadline is the day after the impeachment motion is submitted raises sufficient suspicion."
It is suspected that this is an attempt to declare a second martial law, as the impeachment motion against President Yoon is expected to be voted on at the plenary session of the National Assembly on the 7th.
The Military Human Rights Center said, "As the People Power Party has decided to oppose the impeachment bill, making it more likely that it will be rejected, we suspect that they are making plans in case the impeachment is rejected," and urged, "The Army should stop preparing for the political situation and stick to its original mission."
this territory is moderated
If you want to learn a bit more about Korean history, this movie is becoming top of the charts again on Netflix in Korea. It has English subtitles.
I also recommend @Cje95's quick dive into South Korean history and experience with martial law (see #793820). The movie above is about one such occurrence of Martial Law.
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No support from his own party nor from the military. Yoon just has to await his faith.
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will a dollar-to-won spike in the short-term have much of an impact? other than psychological?
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I think this will not happen as I read that the president is likely to be impeached in 20 days. But I really hope there won't be a military coup (which seems pretty unlikely).
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Who is left to impose martial law? If the president can’t and the parliament is divided, that only leaves the military. I would call that a coup rather than martial law.
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Yeah, that's why I take this more as a rumor. But likely means impeachment is very much on the table. Gotta be very careful with what so-called Twitter experts say. Unfortunately, this kind of rumor has a very real impact on real things such as the Korean exchange rate or the stock market.
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The opposition party needs 8 votes from the ruling party to achieve impeachment. The ruling party had initially declared they would not support impeachment, but maybe the tides are changing.
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