South Korea’s political turmoil embroils family dynasties
A protracted political standoff could delay crucial corporate governance reforms aimed at reining in the powerful family conglomerates and that is already triggering a backlash.
South Korea’s political crisis will delay much needed corporate reforms. A protester demands the arrest of President Yoon Suk Yeol near the presidential residence this week. AP
Snow falls on the small group of protesters still huddled outside South Korea’s presidential compound. The weather has thinned the crowds that numbered in the tens of thousands just weeks ago, but there are still those braving the cold to call for President Yoon Suk Yeol’s arrest.
Others are there to defend Yoon, who has been holed up in the presidential palace with a private army restricting authorities from detaining him after a failed martial law declaration in December. They have resurrected the “stop the steal” slogan adopted by Donald Trump supporters after he lost the 2020 election.
Jessica SierNorth Asia correspondentJessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
