Rising Exchange Rates Amid Impeachment Situation... Choi Sang-mok Urges 'Reconsideration of Korean Impeachment'

Choi Sang-mok, Deputy Prime Minister for Economic Affairs, has requested reconsideration of the impeachment attempt against Acting President Han Duck-soo. Concerns are rising that if the acting of the acting president becomes a reality, economic uncertainty will increase.

On the 27th, Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok held an emergency meeting with cabinet members, stating, "Our economy and livelihood cannot withstand the expansion of political uncertainty called 'acting of the acting president,'" and appealed, "We once again urge the cooperation of the political parties so that the government can focus solely on the economy and livelihood."

Meanwhile, the Democratic Party of Korea will hold a plenary session this afternoon to vote on the impeachment motion of Prime Minister Han Duck-soo, the acting president. On the same day, the won-dollar exchange rate broke through the 1,460 won level due to heightened economic uncertainty from the impeachment situation. This is the first time the weekly closing price has exceeded the 1,460 won level since March 13, 2009 (1,483.5 won), during the global financial crisis.