• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy South Korea’s prime minister and top presidential officials resign en masse
Economy

South Korea’s prime minister and top presidential officials resign en masse

by April 11, 2024
by April 11, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

South Korea’s prime minister and senior presidential officials have offered to resign en masse following Wednesday’s parliamentary elections.

Prime Minister Han Duck-soo and all senior presidential advisers to conservative President Yoon Suk Yeol submitted their resignations, according to Yoon’s office, after Wednesday’s elections dealt a huge blow to Yeol’s party. The elections secured the liberal opposition forces’ control of parliament until after Yoon completes his single five-year term in 2027. 

The results will likely set back Yoon’s domestic agenda and weaken his grip on the party. He will also have to face the opposition’s intensifying political offensive during his remaining three years, experts say.

Yoon’s office did not immediately say whether Yoon would accept their resignations.

With most of the votes counted, the main opposition Democratic Party and its satellite party appeared to have won a combined 175 seats in the 300-member National Assembly, according to South Korean media tallies.

Yoon’s ruling People Power Party was projected to have obtained 108 seats.

The final official results were expected later Thursday.

The final voter turnout for South Korea’s 44 million eligible voters was the highest for a parliamentary election since 1992, according to the National Election Commission.

In a news conference, ruling People Power Party leader Han Dong-hoon announced he was stepping down to take responsibility for the election defeat.

‘I apologize to the people on behalf of our party, which wasn’t good enough to win the people’s choices,’ he said.

Yoon, a former top prosecutor who took office in 2022, will stay in power and his major foreign policies will likely be unchanged. 

Democratic Party leader Lee Jae-myung, who lost the 2022 presidential election to Yoon, praised Wednesday’s results. 

‘The results of the parliamentary elections are not the victory by the Democratic Party, but the great victory by our people,’ Lee said Thursday. ‘Now, the elections are over. Both the ruling and opposition political parties must pull together all their strength to resolve economic and public livelihood problems.’

In South Korea, executive power is mostly wielded by the president, but the prime minister is the country’s No. 2 official and would take power if the president becomes incapacitated.

The incoming parliament is to begin meeting on May 30 for a four-year term. 

The Associated Press contributed to this report.

This post appeared first on FOX NEWS
You Might Also Like
  • Hezbollah is the ‘X-factor’ in looming Israel, Iran war with ‘nation state capabilities’
  • A look at Donald Trump’s arraignment schedule ahead of Tuesday court appearance
  • Trump impeachment Dem pushes back on GOP concerns over possible role in assassination attempt probe
  • Israel-Iran tensions rising as IDF pauses leave for all combat units: ‘More alert, more ready’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Is our fiercely tribal politics just a distortion of reality?
next post
Burning rubber: How auto insurance prices have fueled inflation

You may also like

Trump lawyers motion to adjourn Manhattan DA trial until after...

March 12, 2024

California reparations panel wants to give state agency veto power...

May 15, 2023

Biden under investigation after threat to Israel’s offensive aid: ‘playing...

May 11, 2024

5 reasons Democrats are in the lead in 2024 elections

January 17, 2024

Trump campaign demands Biden debate him ‘much earlier’ and more...

April 12, 2024

Biden calls to ‘lower the temperature’ then bashes Trump in...

July 17, 2024

Hunter Biden tax charges dismissed by federal judge following plea...

August 18, 2023

NY v. Trump: House Judiciary investigates Bragg prosecutor who held...

May 1, 2024

Captured Hamas terrorists say group is ‘collapsing from within,’ says...

April 2, 2024

Tom Cole wins crowded GOP primary to fight for 12th...

June 19, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,309 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Biden snubbed by House Democrats as...

    March 3, 2023

    Israel begins ‘targeted’ strikes against Hamas...

    May 7, 2024

    Israel-Hamas war: Five American aid workers...

    November 2, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here