South Korea’s acting president moves to reassure allies, calm markets after impeachment

South Korea’s acting president, Han Duck-soo, moved on Sunday to reassure the country’s allies and calm financial markets a day after President Yoon Suk-yeol was impeached and suspended from his duties over a martial law attempt.

Han spoke with US President Joe Biden by phone, the White House and Han’s office said.

“South Korea will carry out its foreign and security policies without disruption and strive to ensure the South Korea-US alliance is maintained and developed steadfastly,” Han said, according to a statement from his office.

In a further attempt to stabilise the country’s leadership, the main opposition party announced it would not seek to impeach Han for his involvement in Yoon’s December 3 martial law decision.

“Given that the prime minister has already been confirmed as acting president and considering that excessive impeachments could lead to confusion in national governance, we have decided not to proceed with impeachment procedures,” Democratic Party leader Lee Jae-myung told reporters.

Han, a long-time technocrat picked by Yoon as prime minister, was elevated to acting president in accordance with the constitution while Yoon’s case moves to the Constitutional Court.

Yoon’s surprise martial law declaration and the ensuing political crisis spooked markets and South Korea’s diplomatic partners worried over the country’s ability to deter nuclear-armed North Korea.

Biden told Han the ironclad US-South Korea alliance remained unchanged and Washington would work with Seoul to further develop and strengthen the alliance as well as trilateral cooperation including neighbour Japan, Han’s office said.