A South Korean court has granted an arrest warrant for President Yoon Suk Yeol, marking a significant moment as it is the first instance of a sitting president in the country facing such legal action. On December 31, the Seoul Western District Court approved the request after Yoon failed to comply with questioning on three separate occasions. This development aligns with ongoing investigations led by a coordinated task force from various government agencies focused on corruption and national defense.
The warrant was submitted on December 30 by the joint investigation team, which includes members from the National Police Agency, the Corruption Investigation Office for High-ranking Officials, and the Criminal Investigation Command of the Defense Ministry. The authorities stated that the arrest must be executed within a week following its approval, although this timeframe may be extended if deemed necessary. Following his impeachment by the national parliament on December 14, Deputy Prime Minister and Finance Minister Choi Sang-mok has been acting as the interim leader of South Korea.
In a related note, Yoon’s controversial attempt to impose martial law on December 3 triggered a decline in cryptocurrency prices. During a live television address, he cited the need to counter “anti-state elements” amid heightened tensions with North Korea. This initiative led to a swift downturn in the crypto market, particularly affecting Bitcoin , which saw its price drop to around $30,000 on domestic exchanges like UpBit within just six hours. Analysts suggested that a liquidity crisis exacerbated by the abrupt exit of key market players contributed to this decline. On international platforms, cryptocurrencies such as Bitcoin , Ether, and XRP experienced declines up to 4%.
Despite the initial downturn, cryptocurrency prices rebounded quickly after parliamentary demands led to the withdrawal of martial law just one day later. This episode coincided with peak retail trading activity in South Korea, as traders were actively engaging with various altcoins including XRP , Dogecoin, and Stellar.
