South Korea's President Yoon Faces Arrest: A New Chapter

On Wednesday, South Korean President Yoon Suk Yeol found himself in a precarious situation. The Corruption Investigation Office for High Ranking Officials (CIO) arrested him, marking a historic event as the first sitting president to face such charges. This wasn't the CIO's first attempt; a previous attempt on January 3 was thwarted by the Presidential Security Service. The second effort involved a significant deployment of police resources—about 3, 000 officers. They were tasked with securing access to Yoon's residence. It's reported that Yoon released a pre-recorded video, expressing his view that the law in the country had failed and that the CIO's investigation was unlawful. He stated his willingness to appear before the CIO to prevent any unfortunate events. In financial news, the arrest had a subdued impact on South Korean stocks. The Kospi, a blue-chip index, rose slightly by 0. 21%, while the Kosdaq, a small-cap index, dipped by 0. 44%. The won also weakened against the U. S. dollar, trading at 1, 459. 75. The yield on 10-year benchmark South Korean bonds saw an increase.