South Korea’s ruling party vows ‘orderly exit’ for Yoon

The leader of South Korea’s ruling People Power Party leader said on Sunday that Prime Minister Han Duck-soo will manage the nation’s affairs as the country deals with the fallout from a political crisis sparked by President Yoon Suk Yeol’s bungled martial law.

The party will prepare an orderly exit plan for Yoon, PPP leader Han Dong-hoon said in a prepared statement after meeting with the prime minister. 

“The president will not be involved in any state affairs including diplomacy before his exit,” party leader Han said.

Yoon’s brief imposition of martial law late Tuesday night caught some of South Korea’s closest allies by surprise and prime minister Han said his government will do its best to regain trust of the international community.

“It is very important that we keep strong ties with the US and Japan in terms of national security, while maintaining the US-Korea alliance firm,” Han said. “Most importantly, the approval of the government budget plan and accompanying bills is key to the country’s normal operation,” Han added.

Meanwhile the opposition, which controls a majority in the legislative body, condemned PPP’s plans saying the idea of Prime Minister Han assuming Yoon’s role is “unconstitutional and anarchic.” The leader of the main opposition Democratic Party said Saturday it will push quickly for another vote.

More meetings are planned to plot a path forward, with the prime minister holding a cabinet meeting at 2 p.m. local time and the finance ministry planning a briefing at 2:40 p.m. local time.

The finance ministry said in a text message on Sunday that it will push forward with the economic policies regardless of the political situation.

Separately, prosecutor arrested former defense minister Kim Yong-hyun while police searched his office, Yonhap cited special investigation team of prosecutors office and the National Police Agency. Kim resigned after the opposition submitted motions to impeach him and the president on charges of treason.

President Yoon shocked the nation by briefly declaring martial law, which he revoked within hours after parliament unanimously rejected it. Yoon survived an impeachment motion late Saturday after the ruling party lawmakers boycotted the vote.

More stories like this are available on bloomberg.com

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