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President Yoon Suk Yeol faces an impeachment vote this Saturday after briefly imposing martial law in South Korea. AFP looks at how the dramatic events of the past few days unfolded in a country where democracy had been assumed to be firmly anchored — and what might happen next.

The single currency was fetching $1.0514, trading in tight ranges in early Asian hours but was close to the two-year low of $1.03315 it touched at the end of November as traders brace for a long-winded reckoning for France.

Subscribe to enjoy similar stories. SEOUL—A day after declaring martial law, South Korea’s president is now facing the prospect of impeachment, creating more political instability for a close U.S. ally.

Asian markets are mostly lower after overnight political drama in South Korea added to regional uncertainties

«Korea has been a very weak market this year. It is down about 19% in dollar terms within the EM index and so this is just more pain for the Korean market and we will have to see how the politics plays out,» says Geoff Dennis, Independent EM Commentator. This morning we have woken up to those kind of news coming in from South Korea wherein, of course, there was that Martian law that was put on, then it was taken off. Now, there is news of impeachment, a lot going on as far as the Extraordinary General Meeting of the Central Bank in South Korea is concerned. But it begs the question whether India is one of those safe havens of sort where there is political stability, where there is economic stability, while even countries like, of course, China, South Korea, West Asia, and all of that are going through their own turmoil. Does that make India stand out as one of the best opportunities right now? Geoff Dennis: Oh, yes, it does.

Ajay Bagga, Market Expert, says he is expecting cryptos and gold to go up. There will be a flight to safety. Both the yen and the dollar will get bought into. In US treasuries, one can expect the yields to go down. Today we saw French yields reaching the Greece yield levels. We are seeing China borrowing at cheaper rates than Japan. We are expecting the Bank of Japan to come in and raise rates at its next meeting in the next fortnight. Following the political developments in South Korea and martial laws being put in place and then revoked, the Samsung stock is under heavy selling pressure. How do you expect global investors to react in the short term? Could this spark a broader risk aversion in emerging markets? Ajay Bagga: The Korean exchange has said they will function as normal. The party leader of the president has opposed this on a Facebook post and the defence minister has called for the military. So, we really do not know what is happening right now. It actually came out of the blue. There have been political wranglings on the budget and this is a minority government which would not survive a floor test. So, overall, it is a very big surprise and I am sure the allies of South Korea from Japan to Europe are working on the back channels to see how this situation can be diffused. It is not a dictatorial country. It is a very strong democracy standing up to its communist neighbours. So, it is very critical that democracy is protected.

Malia Obama who is the eldest daughter of former US President Barack Obama is eventually making strides in the entertainment industry. According to She Knows, pretty recently, she directed her debut short film named The Heart which premiered at the Sundance Film Festival's Short Film Program in the year 2024. Adding onto that, she also served as a staff writer for the hit series Swarm while using the stage name ‘Malia Ann’. She Knows reported that in a notable addition to her growing resume, Malia Obama directed a music video for Michael Kiwanuka's single ‘One And Only’ which released on November 26. The video which actually features a woman pursuing her doppelganger through the woods has garnered attention for its moody aesthetic and storytelling.

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South Korean President Yoon Suk Yeol declared an “emergency martial law,” Tuesday accusing the country’s opposition of controlling the parliament, sympathizing with North Korea and paralyzing the government with anti-state activities.

«To safeguard a liberal South Korea from the threats posed by North Korea's communist forces and to eliminate anti-state elements… I hereby declare emergency martial law,» Yoon said in a live televised address to the nation. «With no regard for the livelihoods of the people, the opposition party has paralysed governance solely for the sake of impeachments, special investigations, and shielding their leader from justice,» he added.

Instagram video featuring Indian content creator Neha Arora and her Korean husband, Jongsoo Lee, has taken social media by storm, accumulating over 1.4 million views. The video, which humorously blends K-drama style with Indian humor, showcases a lighthearted language challenge between the couple.

Netflix has unveiled the main trailer for the second season of its hit series Squid Game. The series, known for its intense challenges, returns on December 26 with new characters and games.

Subscribe to enjoy similar stories. Antony Blinken, America’s secretary of state, was unusually blunt on a recent visit to Europe: “One of the reasons that [Vladimir] Putin is able to continue this aggression is because of the provision of support from the People’s Republic of China," he said. China was, he added, “the biggest supplier of machine tools, the biggest supplier of microelectronics, all of which are helping Russia sustain its defence industrial base".

The United States and South Korea have accused the nuclear-armed North of sending more than 10,000 soldiers to help Russia fight Ukraine, with experts saying Kim is eager to gain advanced technology, and battle experience for his troops, in return. Kim, who met Belousov on Friday, blasted the recent decision by Western powers to permit Kyiv to strike inside Russia with their weapons, saying it constituted a «direct military intervention in the conflict», according to KCNA.

Kim Jong Un vowed his country will «invariably support» Russia's war in Ukraine as he met Russia's defense chief, the North's state media reported Saturday. A Russia military delegation led by Defense Minister Andrei Belousov arrived in North Korea on Friday, amid growing international concern about the two countries' expanding cooperation after North Korea sent thousands of troops to Russia last month. The official Korean Central News Agency said that Kim and Belousov reached «a satisfactory consensus» on boosting strategic partnership and defending each country's sovereignty, security interests and international justice in the face of the rapidly-changing international security environments in a Friday meeting.

Kim Jong Un told Russian defence minister Ukraine's use of long-range weapons is the result of direct military intervention by the United States and Moscow is entitled to take action in self-defence, state media said on Saturday. Kim met Russian Defence Minister Andrei Belousov on Friday and said «the U.S. and the West made Kyiv authorities attack Russia's territory with their own long-range strike weapons» and Russia should take action to make «hostile forces pay the price,» KCNA news agency said. Kim pledged to expand ties with Russia in all areas including military affairs under the comprehensive strategic partnership he signed with Russian President Vladimir Putin in June, which includes a mutual defence agreement, KCNA said.

Coffee drinkers can sip their beverages and view a quiet North Korean mountain village from a Starbucks shop at a South Korean border observatory

Global K-pop phenomenon BTS is no stranger to the spotlight, often finding itself embroiled in controversies involving its members. Most recently, member Suga has become the subject of online buzz. Previously linked to legal issues surrounding a drunk driving case, Suga is now facing renewed attention over alleged conflicts with neighbors at one of his former residences. A report by Biz Hankook sheds light on Suga’s move from his luxurious UN Village villa, which followed his departure from another property in 2021. The report states that Suga initially purchased a residence in Hannam Riverhill in 2018 for? 3.40 billion KRW. However, just three years later, in November 2021, he vacated the property, reportedly due to disagreements with other residents in the community.

Ukraine at their fastest rate since the early days of the 2022 invasion while they have already captured approximately 235 square kilometers (91 square miles) in just the past week, reported Reuters. This actually marks a record for the year 2024, with eminent analysts noting that Russian troops have taken control of near about 600 square kilometers (232 square miles) throughout the month of November. According to Reuters, the front line which had been largely static for two years is now seeing renewed activity, specifically in the Donetsk region where Russian forces are pushing towards key towns such as Kurakhove and Pokrovsk. The situation is becoming increasingly precarious while reports are claiming that North Korean troops are being deployed to support the Russian operations. Reuters asserted that Ukrainian President Volodymyr Zelenskiy has indicated that Russia's main objectives include occupying the entire Donbas region and pushing Ukrainian forces out of areas they have controlled since the month of August.

Subscribe to enjoy similar stories. WASHINGTON—President-elect Donald Trump’s brandishing of tariffs on goods from Canada, Mexico and China marks the passage from one era to another: Partnerships are out, and coercion is in. Trump is showing his second term will be much like his first, defined by the economic and diplomatic fights he picked with friends as well as foes.

Several in Trump's team now see a direct approach from Trump, to build on a relationship that already exists, as most likely to break the ice with Kim, years after the two traded insults and what Trump called «beautiful» letters in an unprecedented diplomatic effort during his first term in office, the people said. The policy discussions are fluid and no final decisions have been made by the president-elect, the sources said.