The Korean Penisula has been in the middle of a socio-political mayhem for weeks, and the failed martial law saga that started it has entered a new chapter.

Impeached President Arrested

The impeached president of South Korea, Yoon Suk Yeol, has reportedly been arrested by the Korean investigation team. The South Korean market, which has had an underwhelming period recently, reacted to the developments in the corridors of power.

Seoul's marquee benchmark index, the KOSPI, traded with caution as the overall status of the index remained in green while making limited gains or progress.

South Korea was plunged into chaos that the country had not seen in over 4 decades when its president, Yoon Suk Yeol, a leader who does not mind being disliked, declared martial law earlier this month, on December 3.

The index that had a relatively decent 2024, dipped after the chaos that was unleashed on to the East Asian superpower after the Conservative 'outsider' president Yoon Suk Yeol declared martial law on December 3, clamping down on all civil and political freedom.

The martial law was quickly reversed as South Korean lawmakers intervened despite impediments that were placed by the country's army.

The KOSPI

When we take a closer look at the market, the KOSPI index stood at 2,501.51 points, with gains of 0.16 per cent or 4.11 points at the time of writing.

The index opened at 2,511.07 points, higher than the previous session closing of 2,497.40 points. The value of the index thereafter, however, it has continued to trade in the green, so far.

South Korean Won

When we take a look at the Korean currency, the South Korean Won stood at 1459.55 against the US dollar on January 15.

Improving its staus aginst the dollar compared to January 14, when the value stood at is 1,461.44.

The South Korean president, who is under investigation has been defiant. The Korean investigation officials finally managed to arrest him after a failed attempt, wherein his security personnel blocked the investigators from apprehending him.

This arrest came to pass amidst protests against Yeol and gatherings in favour of him, supporting him took each other own in the capital Seoul.