defiant national address pledging to “fight to the end” and “stand firm,” according to NBC News reporting.
“The opposition parties are currently going berserk, claiming that the declaration of martial law equates to insurrection,” Yoon said. “Is what they claim true?”
South Korea has a political crisis, not an economic one: Lombard Odierwatch now
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South Korea has a political crisis, not an economic one: Lombard Odier
The political turmoil first sent markets reeling and kindled concerns over the democratic stability of Asia’s fourth-largest economy — but John Woods, chief investment officer at Lombard Odier, said that South Korea observers are now “looking through this crisis” and refocusing on local earnings.
“Certainly there is an end game, I think, in sight, and no doubt that will play through in the first quarter or so of next year,” Woods told CNBC’s Tanvir Gill on Thursday. “This volatility around the political backdrop is something we need to consider very seriously. But certainly the broad value of [South] Korea as a proxy AI is something also that we can’t overlook.”
Tech, chips and the booming AI industry play a central role in South Korea’s economy, which the International Monetary Fund forecasts will expand by 2.5% this year.
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