On December 3, CNN reported that South Korean President Yun Seok-yol declared martial law in the country.
In a live televised address to the nation on Tuesday, Yoon said the measure was necessary to protect the country from “communist forces.”
The military has already cordoned off the entrance to South Korea’s parliament. The country’s president promised to “root out the vile pro-North Korean anti-state forces” that have taken the parliamentary process hostage. He did not say what exactly he was going to do.
The stock market has already reacted to the statement: Currently, all cryptocurrency exchanges in South Korea are closed, and trading is almost impossible. The shares of South Korean manufacturers have fallen.