A South Korean court has authorized an arrest warrant for suspended President Yoon Suk Yeol over his attempt to impose martial law on December 3. This marks the first time in the nation’s history that a sitting president is at risk of being arrested. The Seoul Western District Court granted the warrant after Yoon ignored three requests to appear before authorities investigating charges of power abuse and inciting insurrection.
The Corruption Investigation Office for High-ranking Officials (CIO) confirmed the court’s approval of the arrest warrant, which pertains to charges of leading and organizing the martial law decree. Yoon’s legal team has criticized the move as “illegal and invalid” and vowed to challenge the decision in court. This development adds to the ongoing political turmoil, as Yoon is already under impeachment proceedings for his brief declaration of military rule.
South Korea’s political crisis has deepened following the issuance of an arrest warrant for suspended President Yoon Suk Yeol, the first sitting president in the country’s history to face such a charge. Yoon is under investigation for allegedly leading an insurrection following his controversial declaration of martial law on December 3, 2024. The martial law, which lasted only a few hours before being voted down by lawmakers, was intended to curb “anti-national sentiments” within the political elite. Despite the brief duration of the decree, its implications have set off a wave of unrest in the country’s political landscape.
Investigators have until January 6, 2025, to execute the arrest warrant approved by the Seoul Western District Court. However, it remains uncertain whether authorities will be able to detain Yoon, as his security team and loyalists may block the arrest. In previous high-profile cases, South Korean authorities have struggled to carry out such actions when political figures’ supporters physically prevented investigators from proceeding.
Yoon’s whereabouts are currently unknown, although he has been banned from leaving the country. He has been suspended from office since December 14 after lawmakers voted to impeach him, and his fate ultimately depends on the outcome of his impeachment trial at the Constitutional Court.
With only six judges currently sitting on the court’s nine-member bench, the risk of his removal remains uncertain. A single vote against impeachment could allow Yoon to remain in office. However, the opposition has pushed for the appointment of three additional judges to increase the likelihood of his removal.
The arrest warrant is part of a broader investigation into Yoon’s role in the martial law declaration and other alleged abuses of power. If authorities succeed in arresting Yoon, they have 48 hours to either detain him further or release him.
This unprecedented situation has not only thrown South Korean politics into further turmoil but also raised concerns about the potential impact on the nation’s economy. The South Korean won has been in decline for several months, and the arrest of a former president could further destabilize the currency and financial markets.
As political tensions rose, opposition lawmakers voted to impeach Prime Minister Han Duck-soo, who stepped in as acting leader after President Yoon was suspended. They are now threatening to do the same to Finance Minister Choi Sang-mok, who currently holds both the roles of acting president and acting prime minister.
On Tuesday, Choi appointed two new judges to the Constitutional Court but stated that appointing a third would require consensus between the opposition and the governing parties, further highlighting the deepening political divide in the country.
The political instability has extended beyond traditional markets, with South Korea’s turmoil beginning to have an impact on the cryptocurrency market. Bitcoin, which had once surpassed the $100,000 mark, has dropped by approximately 16 percent, now trading at around $92,600. Other altcoins, which saw significant gains during the US presidential election, have also experienced a decline in value.
