South Korean president faces calls to step down

 Opposition pushes for impeachment of Yoon Suk Yeol after failed attempt to impose martial law

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South Korea’s President Yoon Suk Yeol faced mounting calls for his impeachment on Wednesday after his failed attempt to impose martial law triggered the country’s worst constitutional crisis in decades. Opposition lawmakers called on him to resign or face proceedings that would remove him from office following a parliamentary vote, while protesters against the 63-year-old former prosecutor held a rally in central Seoul on Wednesday morning. The turmoil came after Yoon declared martial law in an unscheduled national broadcast late on Tuesday, saying he needed to purge South Korea of “anti-state forces” and “normalise the country”. But he backed down hours later, lifting the order after it was unanimously rejected by the opposition-controlled legislature. Troops sent to surround the parliament building were withdrawn. South Korea’s main opposition, the Democratic party, said Yoon’s declaration of martial law “was a grave violation of the constitution”. “This amounts to a clear act of treason and is a perfect reason to impeach him,” it said in a statement.

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“[Yoon] is likely to make another attempt as his first attempt at a martial decree failed,” Lee Jae-myung, the party leader, told a rally in the parliamentary compound. “But we face a bigger risk where he can provoke North Korea and run the risk of an armed clash with North Korea by destabilising the divided border.” Yoon’s bid to impose martial law — the first in the country since democracy was restored in the 1980s — came after months of tensions with his rivals in parliament. Following the night of upheaval, South Korea’s financial authorities vowed to stabilise Asia’s fourth-largest economy with “unlimited” liquidity. The Bank of Korea said after an emergency meeting on Wednesday that it was “keeping all options open until the markets stabilise”. The won, which weakened sharply against the dollar following Yoon’s declaration of martial law, recovered. The benchmark Kospi index fell nearly 2 per cent. Shares of Samsung Electronics, the country’s biggest company, fell 1.1 per cent.

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