South Korea in the absence of government

It has been nearly a week since the South Korean president declared martial law on Tuesday, yet the country remains in turmoil, unable to extricate itself from chaos. President Yoon Suk Yeol has been formally charged as a suspect in a treason case and is prohibited from leaving the country. As the president remains holed up in his official residence, the Yongsan presidential office has ceased functioning, with even regular meetings suspended. Meanwhile, the Prime Minister’s Office is merely observing developments, unsure of how the situation will unfold. With the administrative control tower paralyzed, the nation finds itself in a state of government paralysis and dysfunction.

The root cause of this political vacuum appears to be the uncertainty surrounding the president’s position since his criminal prosecution for treason charges has become inevitable. Although the president must take responsibility for his reckless actions and make a decision about his future for the sake of national recovery, he has instead passed the responsibility to the ruling party and remains silent. At the same time, the ruling and opposition parties are stuck in a political deadlock, prioritizing their own political gains and producing a dysfunctional legislature. This collective failure in politics has pushed the administration deeper into the quagmire.

However, a makeshift solution such as joint governance by the ruling party leader and the prime minister cannot serve as a path out of this crisis. The Speaker of the National Assembly and opposition parties opposed Prime Minister Han Duck-soo’s “non-acting acting leadership” and disapproved of it. Furthermore, President Yoon, who has supposedly delegated his authority and stepped back, is still exercising personnel authority, such as accepting ministers’ resignations. Without a prime minister officially authorized by the National Assembly to act as a proxy for presidential powers, no stopgap measure can claim legitimacy.

Amidst this chaos, national security concerns are escalating. Although the Ministry of National Defense claims that the current command of the armed forces rests with President Yoon, the command authority of a treason suspect has already been effectively neutralized, both willingly and unwillingly. Moreover, the unconstitutional martial law has left the military’s command structure in disarray. If a crisis were to arise, there is uncertainty about who would take command of the military. Diplomatically, South Korea is becoming increasingly isolated. Scheduled engagements with countries, including the U.S., have been successively canceled, and South Korea is being excluded from future events, intensifying the phenomenon of “Korea passing.”

The martial law’s aftermath is proving to be a severe risk for an already struggling South Korean economy. Foreign investors are engaging in a relentless selling spree in the stock market, prompting individual investors to follow suit in “panic selling.” Credit rating agencies Moody’s and Fitch have warned that South Korea’s political instability could negatively impact the country’s credit rating. The government’s four major reform initiatives have effectively been halted, and medical reforms, in particular, have come to a standstill as the medical community, having been targeted during the martial law crisis, has completely turned its back on the government.

While political rhetoric such as a “second-line retreat for the president,” an “orderly resignation,” or a “joint acting leadership” abounds, no temporary measures can eliminate the current uncertainty and disorder. The longer the president resists and the ruling party dithers, the more the people will suffer. Only by adhering to the procedures outlined in the Constitution and the law, rectifying the unconstitutional and illegal circumstances, and solidifying democratic order can the current abnormality be overcome and predictability restored. This is the only way to regain the trust of markets and the global community in South Korea.