00:00Police officials here confirming during a parliamentary hearing today that they received a formal complaint into treason
00:06allegations against not just President Yoon, but also his defense minister, now former defense minister, as well as the interior minister.
00:13A no-travel ban, in fact, has been initiated on the foreign minister.
00:17He's widely been known, based on multiple sources, that he was the one that led this
00:22martial law plan and suggested it to President Yoon, and actually even gave the orders to
00:28deploy the military into the National Assembly, where we saw those tremendous
00:32pictures just 48 hours ago when that martial law was declared here in South Korea.
00:38But opposition party lawmakers are also not wasting any time into
00:42impeachment proceedings for the president. After introducing an impeachment motion in a plenary session just yesterday, a vote has been set here for
00:50Saturday evening at 7 p.m. Local Time, that's 10 GMT, where two-thirds of
00:56the MPs in the National Assembly need to approve
01:00this impeachment motion for President Yoon to be, in fact, impeached and sent to the Constitutional Court.
01:05But that isn't a done deal. The experts that I've spoken to say that, like you mentioned, eight
01:12conservative lawmakers need to vote against the aisle, across the aisle, and defect for it to reach that 200
01:19threshold for that motion to pass. And it all comes down to
01:23the leader of the Conservative Party, the ruling party, Han Dong-hun, who has 18 faction members within
01:29President Yoon's party, voted to lift that martial law
01:34declaration, but it's not certain right now whether they'll actually vote to approve this
01:39impeachment bill. Shane, the bid to impose martial law was short-lived. It only lasted a matter of hours.
01:46And what kind of long-term
01:48impact could all this cause, do you think, if any?
01:55Well, aside from the political fallout and the implications, which will probably persist until at least President Yoon
02:03is still in the presidential office, whether he is impeached or not. He may still, if he's not impeached, he'll be a
02:09ranked-up president, if he isn't already. But on the other side, if you look at the economic side of South Korea and the implications there,
02:16in the initial hours after
02:18the martial law was being imposed,
02:22financial officials here,
02:24regulatory officials,
02:26immediately convened to make sure that the fallout on the economy was very shallow and not as impactful.
02:33In fact, the finance ministry says it's ready to
02:36import
02:37unlimited amounts of liquidity into the market, and also the central bank saying that it's ready to dip into
02:43a $7 billion stock market stabilization fund. So in terms of the long-term effects on the economy,
02:49experts say that it'll probably be a little more dampened since Korea has gone through similar
02:55political upheaval in the past before, but the short-term sort of instability is definitely going to be here for investors.
