South Korean stocks fell nearly 2 percent this morning following political unrest sparked by President Yoon Suk-yeol’s brief declaration of martial law, which was later repealed by Parliament.

The KOSPI index fell to 2,451.63, with foreign investors selling heavily and offsetting local purchases. The Korea Times reported.

Major companies including Samsung Electronics, LG Electronics and Hyundai Motor posted declines, while some, such as Korea Zinc, posted gains amid ongoing corporate struggles.

The Korean won also weakened against the US dollar, reflecting market volatility amid the turmoil.

South Korean lawmakers are planning to impeach President Yoon Suk-yeol, extending the country’s history of presidential impeachments. This follows the martial law crisis that left the entire nation in turmoil yesterday.

The impeachment process in South Korea requires a two-thirds majority of the National Assembly and the approval of the Constitutional Court.

Previous impeachments in South Korea include Park Geun-hye, who was removed in 2016, and Roh Moo-hyun, who was reinstated in 2004.

Swedish Prime Minister Ulf Kristersson has postponed his planned visit to South Korea this week, his spokesman confirmed this morning.

Kristersson was scheduled to meet with South Korean President Yoon Suk-yeol for a summit, but the trip was postponed after Yoon declared martial law on Tuesday, but it was lifted due to parliamentary opposition.

“In light of recent developments, we have decided to postpone the visit,” the spokesman said.

“We contacted South Korea this morning and will work together to reschedule for a later date.”

President Yoon Suk-yeol’s abrupt lifting of martial law in South Korea sparked jubilant celebrations from thousands of protesters who braved the freezing night outside parliament.

When the announcement was made in the early hours of the morning, crowds erupted in cheers, chanting “We won!” and clapping in victory, according to the BBC.

Many had gathered despite the military presence and maintained a tense vigil throughout the night.

Lawmakers in South Korea are calling for the impeachment of President Yoon Suk-yeol and opposition parties are pushing a bill to suspend him.

The martial law order, aimed at countering alleged threats from North Korea and “anti-state forces”, was rejected by parliament, leading to chaotic scenes as troops stormed the National Assembly.

Protests erupted across the country and unions announced strikes until Yoon resigned. Financial markets reacted sharply, prompting emergency government measures to stabilize stocks, bonds and the currency. The situation remains unstable and further demonstrations are expected Reuters.

Senior advisers to President Yoon Suk-yeol, including his chief of staff and senior secretaries, resigned this morning.

This followed Mr Yoon’s decision to lift the martial law order he issued late on Tuesday night after facing pressure from lawmakers.

South Korea’s Yonhap news agency reports that members of President Yoon Suk Yeoi’s government, including his chief of staff, have announced collective resignations. His national security adviser and his chief of staff for policy also resigned.

On Tuesday, Yoon declared martial law, sparking widespread and swift rebuke from both South Koreans and the broader international community. Yoon eventually backed away from his decision, but that didn’t stop both opposition Democrats and the country’s largest union federation from calling for his resignation.

Demonstrators have gathered just outside Gwanghwamun Square in downtown Seoul to protest President Yoon Suk Yeoi’s decision to declare martial law on Tuesday.

Yoon reversed the move late Tuesday, but not before politicians and union leaders called for his resignation.

The protest aims to disrupt commuters in the city center during rush hour.

In response to the growing presence of demonstrators, the police moved into the city center with protective shields.

South Korea’s largest trade association has announced it will go on strike until President Yoon Suk Yeoi resigns.

The Korean Confederation of Trade Unions said it would “fight alongside the people” and strike until Yoon resigns.

“KCTU members will stop work in accordance with strike guidelines” and demand Yoon’s resignation over his “betrayal.”

According to South Korean media, the association said it would not only go on strike, but also “carry out nationwide emergency social reform measures.”

The trade union federation represents 12 million South Korean workers.

Worker leaders are planning a rally at Gwanghwamun Square on Wednesday morning.