Pyrrhic Victory?…WSJ "Blocking Impeachment Continues to Shock Korean Capital Market"

"Yoon Suk-yeol and People Power Party Isolated in the International Community"

The People Power Party succeeded in blocking the impeachment of President Yoon Suk-yeol, but it will be a Pyrrhic victory (a victory with only losses), and President Yoon Suk-yeol and the People Power Party will become more isolated in the international community, the Wall Street Journal (WSJ) reported on the 7th (local time).

The WSJ quoted Karl Friedhoff, a researcher in charge of Korea at the Chicago Council on Global Affairs, as saying this. He assessed, "Blocking the impeachment will be a kind of 'Pyrrhic victory' for Korea's ruling conservative party and the Yoon Suk-yeol administration." A Pyrrhic victory refers to a victory that comes at such a great cost that it is tantamount to defeat.

He also added, "As the People Power Party prioritized the party over the country, the worst result came out," and "As a result, President Yoon Suk-yeol and the People Power Party will become more isolated in the international community." The WSJ predicted that the failure of impeachment would prolong political uncertainty in Korea, causing continuous shocks to the capital market.

The WSJ detailed the process of impeachment failure, reporting that the Korean National Assembly held a plenary session on the afternoon of the 7th to vote on the impeachment motion against President Yoon, but it was dismissed as only 195 members participated, failing to establish a quorum.

Reporter Song Jong-hyun