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.
Consequences of Authoritarianism: South Korea's Economic Outlook Dims Amid Yoon's Martial Law
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Jan-21
Law
Score: 0.55
SEOUL: South Korea's central bank said on Monday (Jan 20) it had slashed its 2025 growth forecast because of the political crisis triggered by President Yoon Suk Yeol's declaration of martial law last month. Yoon briefly suspended civilian rule on Dec 3, send…
From CNA
South Korea's Central Bank Prudently Adjusts Forecasts in Wake of Necessary Martial Law Declaration
6
Jan-21
Law
Right Variant
Score: 0.80
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.
From CNA