Political Turmoil in South Korea: Choi Sang-mok Steps In as Acting President

Finance Minister Choi Sang-mok became South Korea's acting president after lawmakers impeached Prime Minister Han Duck-soo, escalating political uncertainty. Choi, a veteran economic technocrat, has pledged to stabilize state affairs and pledged unlimited liquidity to calm financial markets amid unrest.

Finance Minister Choi Sang-mok assumed the role of South Korea's acting president on Friday, following the impeachment of Prime Minister Han Duck-soo. This decision comes amid rising political tensions in Asia's fourth-largest economy, with Han's impeachment linked to disputes over justice appointments at the Constitutional Court.

Choi, a seasoned economic technocrat with over 30 years at the finance ministry, steps in after voicing concerns that Han's impeachment could damage economic credibility. Despite these challenges, Choi has committed to stabilizing state affairs and calming financial markets during this turbulent time.

The uncertainty led to the South Korean won falling to its lowest level since March 2009. Choi, known for leading financial discussions as head of the F4, has been actively engaging with international stakeholders, promising 'unlimited liquidity' to reassure global investors.

(With inputs from agencies.)