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South Korea Parliament Votes to Impeach President Park Geun-hye

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  • South Korea Parliament Votes to Impeach President Park Geun-hye

SEOUL, South Korea — South Korea’s Parliament voted on Friday to impeach President Park Geun-hye, an aloof conservative who took a hard line against North Korea and rose to power with strong support from those who revered her father, the military dictator Park Chung-hee.

The vote against Ms. Park, the nation’s first female leader, followed weeks of damaging disclosures in a corruption scandal that has all but paralyzed the government and produced the largest street protests in the nation’s history. Her powers will now be suspended as the Constitutional Court considers whether to remove her from office.

Ms. Park has been accused of allowing a shadowy confidante, the daughter of a religious sect leader, to exercise remarkable influence on matters ranging from choosing top government officials to her wardrobe, and of helping her extort tens of millions of dollars from South Korean companies. The scandal, which gained national attention less than two months ago, has cast a harsh light on collusion between the presidency and big business in one of Asia’s most dynamic economies.

A total of 234 lawmakers voted for impeachment, well over the required two-thirds threshold in the 300-seat Parliament. The vote was by secret ballot, but the outcome indicated that nearly half of the 128 lawmakers in Ms. Park’s party, Saenuri, had joined the opposition in moving to oust her.

Parliament’s motion for impeachment, accusing Ms. Park of “extensive and serious violations of the Constitution and the law,” will now be taken up by the Constitutional Court, which has six months to decide whether the charges are true and merit her ouster.

Prime Minister Hwang Kyo-ahn, a former prosecutor and staunch defender of Ms. Park, will serve as acting president in the meantime. If the court votes to remove Ms. Park, South Korea will hold an election for a new president in 60 days.

The political turmoil ushers in a period of uncertainty as South Korea faces a slowing economy, a growing nuclear threat from North Korea and a more assertive China. Ms. Park had adopted a tough stance toward the North, focusing on stronger sanctions, and had agreed to deploy an American advanced missile defense system that infuriated the Chinese.

Her unpopularity increases the chances of a liberal candidate winning the next election, possibly upending her North Korea approach and steering the country closer to China.

Domestically, her undoing provides the latest example of how corruption and influence-peddling remain entrenched at the top echelons of political and corporate life in South Korea.

The nexus of industry and political power has fueled South Korea’s transformation from a war-torn agrarian country into a global economic powerhouse, yet the ties between government and business have yielded recurring corruption scandals.

Ms. Park, 64, came to power in early 2013, backed mostly by older Koreans who had hoped she would be a contemporary version of her father, often viewed as the modernizer of South Korea.

Instead, she became the least popular leader since the country began democratizing in the late 1980s, according to recent polls. Critics said she was authoritarian and used state power to muzzle critics while shielded by a coterie of advisers.

The vote for impeachment in the National Assembly, South Korea’s Parliament, was a victory both for the opposition and the huge crowds of South Koreans who filled central Seoul for the past six weekends demanding that she resign immediately or face impeachment. Recent surveys showed that a vast majority of South Koreans agreed with the demonstrators.

“It is a victory of the people’s will and Korea’s democracy,” said Kang Won-taek, a professor of political science at Seoul National University. “It is Korea’s glorious revolution, achieved without blood and without any serious violence.”

The last time South Koreans took to the streets to kick out an unpopular leader, in 1960, they had to fight bloody battles with police officers armed with rifles.

That uprising forced Syngman Rhee, the country’s founding and authoritarian president, to resign and flee into exile in Hawaii. Vice President Lee Ki-poong, a Rhee confidant who was at the center of a corruption scandal, and his family ended their lives in a group suicide as mobs approached their home in Seoul.

In subsequent decades, when South Koreans demanded more democracy, their military dictators, including Ms. Park’s father, brutally suppressed them through martial law, torturing and even executing their leaders.

In 1987, violence erupted again as people took to the streets to demand free presidential elections, forcing the military government to back down.

This time, in a sign of how far South Korea’s democracy has matured, peaceful crowds achieved their goal without a single arrest. Increasingly large numbers of protesters gathered in the capital, including about 1.7 million people on Saturday — the largest protest in South Korean history.

The protesters sang and danced to rock music and put flower stickers on police buses. They marched, some pushing baby carriages, while uniformed officers stood aside. And they neared Ms. Park’s presidential compound, chanting that she should step down immediately or face impeachment.

Ms. Park became the first South Korean president to suffer such a fate since 2004, when the National Assembly moved to impeach Roh Moo-hyun for violating election law. Two months later, the Constitutional Court ruled that Mr. Roh’s offense was too minor to justify impeachment and restored him to office. But Ms. Park faces much more serious accusations.

Still, it is difficult to predict when and how the Constitutional Court will rule on Ms. Park’s fate. The process will buy time for Ms. Park’s embattled party to recover from the scandal and prepare for the next presidential election if the court decides to formally unseat her.

If a liberal candidate wins the next election, the plan for the American missile deployment could be in trouble. Although none of the politicians cited as potential presidential candidates has specified that they would reverse the plan if elected, liberals have criticized the deployment, saying that South Korea should pursue a more balanced diplomacy between Washington and Beijing.

That may present a challenge for the incoming administration of Donald J. Trump, as he deliberates over whether to adjust Washington’s approach toward North Korea’s advancing nuclear-missile program.

Ms. Park joins the ranks of South Korean leaders who have been disgraced near the end of their terms, with their relatives or aides implicated in corruption scandals. An exception was Ms. Park’s father, who was assassinated in 1979 at the height of his dictatorial power and before anyone dared to bring corruption charges against him.

His and subsequent governments had favored a handful of family-owned conglomerates with tax benefits, lucrative business licenses and buy-Korea and anti-labor policies. In return, the businesses were accused of returning the favors with bribes and suspicious donations.

Through the years, top corporations have been rocked by recurring corruption scandals, including the one that implicated Ms. Park and her confidante, Choi Soon-sil.

In 1988, business tycoons were hauled into a parliamentary hearing to be questioned about millions of dollars they gave to a foundation controlled by the military dictator Chun Doo-hwan.

The scene repeated this week, when nine business leaders, including Jay Y. Lee, the vice chairman of Samsung, and Chung Mong-koo, the Hyundai chairman, appeared at another parliamentary hearing to be questioned about millions of dollars they gave to two foundations controlled by Ms. Choi.

Ms. Choi has been indicted on charges of leveraging her influence with Ms. Park to extort the money from the businesses. Prosecutors have also identified Ms. Park as a criminal suspect, a first for a president, though she cannot be indicted while in office.

The businessmen admitted giving the money, confirming that the requests had come directly from Ms. Park or her aides.

Hur Chang-soo, chairman of GS Group and the head of the Federation of Korean Industries, the pro-business lobby group that coordinated the donations, put the situation this way: “It is difficult for businesses to say no to a request from the government. That’s the reality in South Korea.”

NY Times

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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Israeli President Declares Iran’s Actions a ‘Declaration of War’

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Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

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