Another impeachment piles more pressure on South Korea’s economy
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 27 December 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
From the BBC World Service: South Korea has voted to impeach acting President Han Duck-soo, two weeks after parliament voted to impeach President Yoon Suk Yeol following his failed attempt to impose martial law. All that turmoil is having a negative impact on the economy. Then, with less than a month to go until Donald Trump is back in the White House, many companies are rushing to protect themselves from planned tariffs.
Transcript
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| 0:28.2 | Another impeachment piles more pressure on South Korea's economy. |
| 0:32.4 | Live from the UK, this is the Marketplace Morning Report from the BBC World Service. |
| 0:36.7 | I'm Stuart Clarkson. Good morning. |
| 0:38.9 | South Korea's Parliament has voted to impeach the Prime Minister. |
| 0:42.0 | Han Duk Su has been acting president since Yun Suk Yul was suspended following his failed attempt to impose martial law. |
| 0:49.0 | Today's impeachment means the finance minister is now in charge. |
| 0:52.3 | Political turmoil, of course, never good for a country's economy. |
| 0:55.5 | Mariko Oye is with us here on Marketplace with a look at the impact of this latest development. |
| 1:00.4 | No investors like uncertainty. |
| 1:03.1 | And clearly what South Korea is going through is political uncertainty. |
| 1:08.2 | But I have to say that even before all of this started at the start of this month, |
| 1:12.8 | the South Korean economy hasn't been doing too well. It's not doing horribly, but it hasn't |
| 1:17.7 | been outperforming compared to its regional peers, for example. Also, if you look at the stock |
| 1:23.4 | market, it's actually been one of the worst performing stock markets. The currency has |
| 1:28.4 | been weakening against the US dollar as well. So I think it's fair to say that businesses, |
| 1:35.0 | the government, they have been trying to keep it stable for now, hoping that it will be |
| 1:40.8 | resolved very soon. But if this continues in the new year, |
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