South Korea to Hold Presidential Elections on June 3 After Yoon’s Dismissal
The South Korean Agency Yonhap, based on government resources, has announced that a date for the upcoming presidential elections is expected to be approved at the cabinet meeting chaired by Prime Minister Han Duck-Soo, who is serving as a proxy for the presidency of the state.
Following the dismissal decision of the Constitutional Court, the country is set to hold early elections for the presidency within 60 days at the latest. If the date is approved, candidates will have until May 11 to apply, and election campaigns will kick off on May 12.
The new president is expected to begin their term after the election which is scheduled to take place on June 3. This comes after the dismissal of former president Yoon Suk Yeol, who declared martial law on December 3, 2024, citing opposition involvement in anti-state activities. However, Yoon was ultimately dismissed by the National Assembly and temporarily removed from office pending the decision of the Constitutional Court.
The Constitutional Court later approved Yoon’s dismissal on April 4, following the declaration of martial law, and the country now prepares for a new chapter with the upcoming presidential elections.
In the midst of this political turmoil, the South Korean market is also experiencing turbulence, leading many to keep an eye on gold and the stock exchange. A new target has been announced amidst the uncertainty, signaling a potential shift in economic trends. Stay tuned for more updates on this developing story.
