by Peter Zeihan on December 11, 2024

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South Korea caught fire yesterday as President Yoon Suk Yeol declared martial law and deployed the military to shut down parliament. But that didn’t last long…the parliament summarily overturned that decision – unanimously no less. So where does that leave the Koreans?

South Korea has a history of rapid transformation, moving from poverty in the 50s to a major global economy today. Yoon had some foreign policy success with normalizing relations with Japan, but his domestic politics didn’t mirror that…clearly.

After martial law was overturned, Yoon admitted failure, signaling that his personal political collapse is imminent. And as the Koreans have shown, they like to move fast. So, Yoon’s presidency will likely be ended soon, and new elections would happen within the next few months to usher in a government with more stable policies. (Hopefully.)

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