In South Korea, the lawmakers of the opposition coalition today moved a motion in the Parliament to impeach President Yoon Suk Yeol after his shocking imposition of martial law that brought thousands of protesters to the streets. President Yoon declared martial law yesterday, leading to widespread criticism and comparisons to South Korea’s past dictatorships. After facing a strong backlash, Yoon reversed his decision within six hours.

Kim Yong-min, a member of the opposition Democratic Party, said the impeachment vote could happen as soon as Friday. Six political parties support the motion.

For the impeachment to pass, at least two-thirds of South Korea’s National Assembly must vote in favour. Yoon’s party holds 108 of the 300 seats, so some members of his own party would need to support the motion.

If impeached, Yoon would be suspended from office. The Constitutional Court would then decide whether to permanently remove him.

Meanwhile, the  South Korea benchmark stock index, Kospi, today ended around one and a half percent down, having shed as much as 2.3 per cent at the open, as traders fretted over the impact of Yoon declaring the country’s first martial law in more than four decades.