South Korean Won Hits Two-Year Low Against US Dollar Amid Political Tensions

According to Odaily, the South Korean won has experienced a significant decline against the US dollar, reaching its lowest point in two years. This economic downturn coincides with heightened political tensions in the country. The leader of South Korea's largest opposition party, Lee Jae-myung, has stated that the parliament will attempt to overturn President Yoon Suk-yeol's martial law declaration. However, there are concerns that the military might intervene by arresting members of parliament. Following the president's announcement of martial law, access to the South Korean parliament has been restricted, with roads leading to the legislative building being blocked. This has prevented lawmakers from entering the premises, further escalating the political crisis. The ongoing situation has raised concerns about the stability of South Korea's political environment and its potential impact on the country's economy. The depreciation of the won reflects these uncertainties, as investors remain cautious amid the unfolding events.