South Korean acting President Choi Sang-mok on Tuesday (Dec 31) approved the appointment of two of the three constitutional court justices, to fill vacancies on the nine-member bench for President Yoon Suk-yeol's impeachment trial.
While addressing a cabinet meeting, Choi said that he decided to appoint Jeong Gye-seon, a justice recommended by the main opposition Democratic Party of Korea (DPK), and Cho Han-chang, recommended by the ruling People Power Party.&nbsp;
However, the appointment of the two justice, partially fill the vacancies, as there is a need to appoint three justices.&nbsp;
Also read: <a href="https://www.wionews.com/world/south-korean-prosecutors-seek-arrest-warrant-for-yoon-after-ousted-president-skips-questioning-for-the-third-time-8577341">South Korean prosecutors seek arrest warrant for ousted president Yoon as he defies summons</a>
Choi said that he would put the third justice on hold until there is a clear agreement.&nbsp;
"I decided to appoint the Constitutional Court justices because of the need to end the political uncertainty and social conflict as soon as possible and stop a possible crisis in the economy and people's livelihoods," he said.
Choi is currently the minister of economy and finance and now, is also serving as the acting president of <a href="https://www.wionews.com/search?title=south+korea" rel="dofollow">South Korea</a> after the impeachment of both president Yoon Suk-yeol and acting president Han Chuk-soo.
The DPK had demanded the former acting president Han to appoint three justices without any delay once motions for their appointments passed the opposition-controlled National Assembly.
Since he refused to do so last week, the DPK voiced concerns and eventually impeached Han, which led to the suspension of his duties and the appointment of Choi as acting President.&nbsp;
Han&rsquo;s refusal to formally appoint the three judges proves that he &ldquo;does not have the will or qualification to uphold the constitution&rdquo;, the Democratic Party&rsquo;s floor leader, Park Chan-dae, said.&nbsp;
According to the law, there has to be at least six votes to uphold an impeachment motion.&nbsp;
South Korea has been facing political turmoil since President Yoon Suk Yeol imposed martial law on December 3, after which he was impeached.&nbsp;
Also read: <a href="https://www.wionews.com/world/breaking-news-arrest-warrant-issued-for-suspended-south-korean-president-yoon-suk-yeol-8579416">Arrest warrant issued for suspended South Korean president Yoon Suk Yeol</a>
<h2>Arrest warrant for Yoon</h2>
Earlier today, South Korea issued an arrest warrant for impeached, suspended president Yoon Suk Yeol. The arrest warrant is nothing short of historic, as this marks the first attempt in South Korea's history to forcibly detain a president before the impeachment procedure is complete.
"The arrest warrant and search warrant for President <a href="https://www.wionews.com/search?title=Yoon+Suk+Yeol" rel="dofollow">Yoon Suk Yeol</a>, requested by the Joint Investigation Headquarters, was issued this morning," the investigators probing Yoon said in a statement.&nbsp;
"No schedule has been set for future proceedings," Joint Investigation Headquarters added.
(With inputs from agencies)

World: Choi appointed Jeong Gye-Seon and Cho Han-chang during a cabinet meeting and said that he would put the third justice on hold until there was a clear agreement. 

South Korean acting President Choi Sang-mok on Tuesday (Dec 31) approved the appointment of two of the three constitutional court justices, to fill vacancies on the nine-member bench for President Yoon Suk-yeol's impeachment trial. While addressing a cabinet meeting, Choi said that he decided to appoint Jeong Gye-seon, a justice recommended by the main opposition Democratic Party of Korea (DPK), and Cho Han-chang, recommended by the ruling People Power Party. However, the appointment of the two justice, partially fill the vacancies, as there is a need to appoint three justices. Also read: South Korean prosecutors seek arrest warrant for ousted president Yoon as he defies summons Choi said that he would put the third justice on hold until there is a clear agreement. "I decided to appoint the Constitutional Court justices because of the need to end the political uncertainty and social conflict as soon as possible and stop a possible crisis in the economy and people's livelihoods," he said. Choi is currently the minister of economy and finance and now, is also serving as the acting president of South Korea after the impeachment of both president Yoon Suk-yeol and acting president Han Chuk-soo. The DPK had demanded the former acting president Han to appoint three justices without any delay once motions for their appointments passed the opposition-controlled National Assembly. Since he refused to do so last week, the DPK voiced concerns and eventually impeached Han, which led to the suspension of his duties and the appointment of Choi as acting President. Han’s refusal to formally appoint the three judges proves that he “does not have the will or qualification to uphold the constitution”, the Democratic Party’s floor leader, Park Chan-dae, said. According to the law, there has to be at least six votes to uphold an impeachment motion. South Korea has been facing political turmoil since President Yoon Suk Yeol imposed martial law on December 3, after which he was impeached. Also read: Arrest warrant issued for suspended South Korean president Yoon Suk Yeol Arrest warrant for Yoon Earlier today, South Korea issued an arrest warrant for impeached, suspended president Yoon Suk Yeol. The arrest warrant is nothing short of historic, as this marks the first attempt in South Korea's history to forcibly detain a president before the impeachment procedure is complete. "The arrest warrant and search warrant for President Yoon Suk Yeol, requested by the Joint Investigation Headquarters, was issued this morning," the investigators probing Yoon said in a statement. "No schedule has been set for future proceedings," Joint Investigation Headquarters added. (With inputs from agencies)

S Korea acting President Choi approves appointment of two constitutional justices amid political unrest

South Korea's Finance Minister Choi Sang-mok was appointed as the new acting president of the country on Friday (Dec 27) amid political turmoil.&nbsp;
This comes after lawmakers voted to impeach the current acting leader, Han Duck-soo on Friday after he declined to appoint replacements for three vacant positions in the Constitutional Court, which is responsible for presiding over President Yoon&rsquo;s impeachment trial.
Soon after his appointment Choi Sang-mok vowed to overcome the period of turmoil in the country, stressing that minimising government turmoil is of key importance.&nbsp;
Also read: <a href="https://www.wionews.com/world/south-korean-lawmakers-pass-impeachment-motion-against-acting-president-han-duck-soo-8570107">South Korean lawmakers impeach acting President Han Duck-soo; finance minister to take charge</a>
"Minimising governmental turmoil is of utmost importance at this moment," Choi said in an address shortly after his appointment as acting leader. "The government will also dedicate all its efforts to overcoming this period of turmoil."
<h2>Who is Choi Sang-mok?</h2>
Choi, a 61-year-old veteran economic technocrat, has served for over 30 years in the finance ministry. He completed his bachelor's from the Seoul National University Law School, along with Yoon.&nbsp;
Now, he has been appointed for an unprecedented role as successor to an impeached acting leader Han Duck-soo.&nbsp;
Also read: <a href="https://www.wionews.com/world/south-koreas-suspended-president-yoon-suk-yeol-faces-impeachment-hearing-over-martial-law-crisis-8569233">South Korea's suspended president Yoon Suk Yeol faces impeachment hearing over martial law crisis</a>
Choi was one of Yoon's conservative loyalists in the cabinet until recently. He had multiple roles in the cabinet since the president was elected in 2022, initially being appointed as a secretary of the economy division.&nbsp;
Later, he was appointed as chief economic secretary, and then finance minister in December 2023.&nbsp;
Choi has been leading an unofficial gathering of finance authorities, also known as F4, and has been seeking to placate fears among foreign investors and allies over the political turmoil.
Moreover, he pledged "unlimited liquidity" to soothe financial markets and also spoke with US Treasury Secretary Janet Yellen to reaffirm strong ties with America, South Korea's biggest ally.&nbsp;
(With inputs from agencies)

Choi, a 61-year-old veteran economic technocrat, has served for over 30 years in the finance ministry. He completed his bachelor's from the Seoul National University Law School.

South Korea's Finance Minister Choi Sang-mok was appointed as the new acting president of the country on Friday (Dec 27) amid political turmoil. This comes after lawmakers voted to impeach the current acting leader, Han Duck-soo on Friday after he declined to appoint replacements for three vacant positions in the Constitutional Court, which is responsible for presiding over President Yoon’s impeachment trial. Soon after his appointment Choi Sang-mok vowed to overcome the period of turmoil in the country, stressing that minimising government turmoil is of key importance. Also read: South Korean lawmakers impeach acting President Han Duck-soo; finance minister to take charge "Minimising governmental turmoil is of utmost importance at this moment," Choi said in an address shortly after his appointment as acting leader. "The government will also dedicate all its efforts to overcoming this period of turmoil." Who is Choi Sang-mok? Choi, a 61-year-old veteran economic technocrat, has served for over 30 years in the finance ministry. He completed his bachelor's from the Seoul National University Law School, along with Yoon. Now, he has been appointed for an unprecedented role as successor to an impeached acting leader Han Duck-soo. Also read: South Korea's suspended president Yoon Suk Yeol faces impeachment hearing over martial law crisis Choi was one of Yoon's conservative loyalists in the cabinet until recently. He had multiple roles in the cabinet since the president was elected in 2022, initially being appointed as a secretary of the economy division. Later, he was appointed as chief economic secretary, and then finance minister in December 2023. Choi has been leading an unofficial gathering of finance authorities, also known as F4, and has been seeking to placate fears among foreign investors and allies over the political turmoil. Moreover, he pledged "unlimited liquidity" to soothe financial markets and also spoke with US Treasury Secretary Janet Yellen to reaffirm strong ties with America, South Korea's biggest ally. (With inputs from agencies)

Meet Choi Sang-mok, S Korea's new acting president who vows to overcome political turmoil

South Korea's Finance Minister Choi Sang-mok said that in the short term, the policy priority was not more on rising household debt but more focused on taming slowing domestic demand.

"As the deputy prime minister for economic affairs, I think the recovery of domestic demand is a little more important in the short term," said Choi, as he answered a question about policy priorities at a discussion forum.

The minister said that he expected the Bank of Korea to make a wise decision after the US Federal Reserve's recent interest rate cut.

The US central bank last week opened an expected string of interest rate cuts with a more-than-expected half-percentage-point reduction that Federal Reserve Chair Jerome Powell said was part of policymakers' efforts to show they can preserve a low unemployment rate given the recent easing of inflation.

The Bank of Korea kept interest rates steady at 3.50 per cent last month, the highest since late 2008, as board members were fearful of accelerating house prices and debt for households regardless of easing inflation and slowing domestic demand.

South Korea's house prices accelerated in August, with prices in the capital, Seoul, rising at the fastest rate in more than 4-1/2 years, even after a government policy package to boost supply in the real estate market.

Choi said efforts to calm the housing market will continue through sufficient supply, and new measures to stabilise construction firms' input costs will be announced soon.

South Korea's economic growth will be at a level around mid-2 per cent in 2024 and above its growth potential, Choi said.

Economic growth will be driven by robust exports, according to Choi, while the recovery of domestic demand was comparatively sluggish.

South Korea's Finance Minister Choi Sang-mok said that in the short term, the policy priority was not more on rising household debt but more focused on taming slowing domestic demand.

South Korea's Finance Minister Choi Sang-mok said that in the short term, the policy priority was not more on rising household debt but more focused on taming slowing domestic demand. "As the deputy prime minister for economic affairs, I think the recovery of domestic demand is a little more important in the short term," said Choi, as he answered a question about policy priorities at a discussion forum. The minister said that he expected the Bank of Korea to make a wise decision after the US Federal Reserve's recent interest rate cut. The US central bank last week opened an expected string of interest rate cuts with a more-than-expected half-percentage-point reduction that Federal Reserve Chair Jerome Powell said was part of policymakers' efforts to show they can preserve a low unemployment rate given the recent easing of inflation. The Bank of Korea kept interest rates steady at 3.50 per cent last month, the highest since late 2008, as board members were fearful of accelerating house prices and debt for households regardless of easing inflation and slowing domestic demand. South Korea's house prices accelerated in August, with prices in the capital, Seoul, rising at the fastest rate in more than 4-1/2 years, even after a government policy package to boost supply in the real estate market. Choi said efforts to calm the housing market will continue through sufficient supply, and new measures to stabilise construction firms' input costs will be announced soon. South Korea's economic growth will be at a level around mid-2 per cent in 2024 and above its growth potential, Choi said. Economic growth will be driven by robust exports, according to Choi, while the recovery of domestic demand was comparatively sluggish.

South Korea's finance minister emphasises demand recovery over rising household debt

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S Korea acting President Choi approves appointment of two constitutional justices amid political unrest

Meet Choi Sang-mok, S Korea's new acting president who vows to overcome political turmoil

South Korea's finance minister emphasises demand recovery over rising household debt