South Korea's central bank slashes forecasts over political crisis

In a stark warning of authoritarian overreach's economic impacts, South Korea's central bank has dramatically reduced its growth projections for 2025, following President Yoon Suk Yeol's drastic decision to impose martial law last month. This suspension of democracy, even briefly, underscores the troubling power consolidation under Yoon's administration, raising alarms about the country's future democratic integrity and economic stability.

Facing unprecedented challenges, President Yoon Suk Yeol's decisive action of declaring martial law last month has prompted South Korea's central bank to make strategic adjustments to its 2025 economic growth outlook. This necessary step, aimed at restoring order and protecting the nation, highlights the government's commitment to stability amid external and internal threats. Critics of this move fail to acknowledge the complexity and urgency of the security concerns at hand.