South Korean won plunges after martial law declaration, recovers slightly

SEOUL, December 4 (AJP) - The South Korean won tumbled to its weakest level since October 2022 after a brief martial law declaration rattled financial markets, with the currency hitting 1,442.0 won per dollar in early Asian trading on Wednesday. The won had partially recovered to 1,416.1 won per dollar by 10:10 a.m., after the martial law was lifted early in the morning, though market participants said volatility would likely persist amid heightened political uncertainty. Korean

December 4, 2024

Opposition party calls for Yoon's resignation over martial law declaration

SEOUL, December 4 (AJP) - The main opposition Democratic Party (DP) on Wednesday called for President Yoon Suk Yeol's immediate resignation, denouncing his abrupt late-night declaration of martial law, which was lifted shortly after as the National Assembly voted to reject it. In an emergency meeting at the National Assembly, the DP said it will soon begin impeachment proceedings if he refused to step down voluntarily. "Yoon's declaration of martial law is unconstitu

December 4, 2024

'AJP dedicated to amplifying Asia's voices, sharing Asia's stories'

SEOUL, December 4 (AJP) - Following is the AJP launch speech delivered by Aju News Corporation Chairman Kwak Young-kil during the news agency's launch ceremony in Seoul on Tuesday -- Ed. It is truly an honor to welcome you all here today as we celebrate the launch of AJP — a new chapter in journalism dedicated to Asia’s stories, values and aspirations. Our mission is clear: Amplifying Asia's Voices, Sharing Asia's Stories. We stand at a pivotal moment i

December 4, 2024

OPINION: Global markets are likely to withstand Trump-led US withdrawal from Paris Agreement

SEOUL, December 4 (AJP) - As the climate crisis deepens, the need for global action becomes greater than ever. Central to this effort is the goal of achieving net zero emissions by 2050, to meet the Paris Agreement to limit global warming. So far 145 countries, collectively responsible for 90 percent of emissions, have committed to net zero targets or are actively considering them. But what if countries withdraw from their commitments, as U.S. President-elect Donald Trump appears in

December 4, 2024

PHOTOS: Citizens cheer passage of resolution to lift martial law

SEOUL, December 04 (AJP) -Citizens gathered in front of the National Assembly building in Yeouido on Dec. 3 to protest the imposition of martial law and demand the restoration of democracy. Moments after lawmakers unanimously passed a resolution to lift martial law at about 1:00 a.m. on Dec 4, the crowd erupted into cheers, celebrating what many described as a victory for democratic values.

December 4, 2024

US expresses grave concern over Korea martial law

SEOUL, December 04 (AJP) - The United States has expressed "grave concern" over President Yoon Suk Yeol's declaration of martial law in South Korea. "We are watching the recent developments in the ROK (Republic of Korea) with grave concern," Deputy Secretary of State Kurt Campbell said on Tuesday. He stressed that the U.S. expects political disputes in Korea to be resolved peacefully and in accordance with the rule of law. Campbell noted that President Bid

December 4, 2024

President Yoon lifts martial law denounced by opposition as 'coup'

SEOUL, December 04 (AJP) - South Korean President Yoon Suk Yeol lifted the emergency martial law early Wednesday morning, following a vote by the National Assembly to overturn his decision. The move came after a tense night of political drama, during which troops surrounded the parliament building and lawmakers voted to reject the president's declaration. The Cabinet approved the motion to end martial law enforcement at 4:30 a.m., approximately six hours after President Yoon&#

December 4, 2024

PHOTOS: Martial law forces enter National Assembly

December 4, 2024

What led Yoon to declare martial law?

SEOUL, December 4 (AJP) - In an abrupt move, President Yoon Suk Yeol declared martial law on Tuesday, accusing "pro-North Korean forces" of "anti-government activities" attempting to subvert the country. What prompted him to resort to such a surprising late-night move? Yoon explained that the drastic measure was "unavoidable" to ensure the safety and freedom of the people, safeguard the nation, and protect South Korea's constitutional order. Y

December 4, 2024

Martial law forces enter National Assembly building

SEOUL, December 04 (AJP) - Martial law forces breached the National Assembly building late Wednesday night, just hours after President Yoon Suk Yeol declared emergency martial law, citing threats to national security. Soldiers equipped with battle dress uniforms (BDUs), night vision goggles, and special warfare gear arrived at the National Assembly via military helicopters around 11:00 p.m. on Dec. 3. Dozens of troops moved toward the main building, where they clashed with c

December 4, 2024