The National Assembly of South Korea has voted to impeach President Yoon Suk Yeol, leading to increased political uncertainty and a decline in the national currency. The impeachment comes after Yoon's attempt to impose martial law, which was criticized as a threat to democracy. Opposition leader Lee Jae-Myung successfully rallied lawmakers to support the impeachment, framing it as necessary for restoring stability. Yoon's presidential duties have been immediately suspended, and the Constitutional Court will determine the impeachment's validity. The political instability has weakened the South Korean won and led to a small price uptick in Ripple XRP. Trading volumes on Upbit, the largest cryptocurrency exchange in South Korea, have declined, and the won's decline aligns with broader economic challenges, including inflationary pressures. The finance ministry has pledged additional measures to stabilize markets, and the Bank of Korea is expected to cut interest rates. Yoon's earlier impeachment motion was narrowly survived but cracks appeared within his party, leading to the current impeachment. Thousands of protesters gathered in Seoul to demand Yoon's resignation.



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