Connect with us

Government

South Korea Removes President Park Geun-hye

Published

on

south Korea trump rally
  • South Korea Removes President Park Geun-hye

A South Korean court removed the president on Friday, a first in the nation’s history, rattling the delicate balance of relationships across Asia at a particularly tense time.

Her removal capped months of turmoil, as hundreds of thousands of South Koreans took to the streets, week after week, to protest a sprawling corruption scandal that shook the top echelons of business and government.

Park Geun-hye, the nation’s first female president and the daughter of the Cold War military dictator Park Chung-hee, had been an icon of the conservative establishment that joined Washington in pressing for a hard line against North Korea’s nuclear provocations.

Now, her downfall is expected to shift South Korean politics to the opposition, whose leaders want more engagement with North Korea and are wary of a major confrontation in the region. They say they will re-examine the country’s joint strategy on North Korea with the United States and defuse tensions with China, which has sounded alarms about the growing American military footprint in Asia.

Ms. Park’s powers were suspended in December after a legislative impeachment vote, though she continued to live in the presidential Blue House, largely alone and hidden from public view, while awaiting the decision by the Constitutional Court. The house had been her childhood home: She first moved in at the age of 9 and left it nearly two decades later after her mother and father were assassinated in separate episodes.

Eight justices of the Constitutional Court unanimously decided to unseat Ms. Park for committing “acts that violated the Constitution and laws” throughout her time in office, Acting Chief Justice Lee Jung-mi said in a ruling that was nationally broadcast.

Ms. Park’s acts “betrayed the trust of the people and were of the kind that cannot be tolerated for the sake of protecting the Constitution,” Justice Lee said.

As the verdict was announced, silence fell over thousands of Park supporters who rallied near the courthouse waving South Korean flags. Soon, they tried to march on the court and called for “destroying” it. When the police blocked them, some of the mostly elderly protesters attacked the officers with flagpoles, hurling water bottles and pieces of the sidewalk pavement. Two pro-Park demonstrators, ages 60 and 72, died during the unrest.

Ms. Park did not comment on the ruling, and remained in the presidential palace after her removal from power. But in Myung-jin, the leader of Ms. Park’s conservative Liberty Korea Party, said he “humbly respected” the ruling.

With the immunity conferred by her office now gone, Ms. Park, 65, faces prosecutors seeking to charge her with bribery, extortion and abuse of power in connection with allegations of conspiring with a confidante, her childhood friend Choi Soon-sil, to collect tens of millions of dollars in bribes from companies like Samsung.

By law, the country must elect a new president within 60 days. The acting president, Hwang Kyo-ahn, an ally of Ms. Park’s, will remain in office in the interim. The Trump administration is rushing a missile defense system to South Korea so that it can be in place before the election.

After the ruling, Mr. Hwang called key Cabinet ministers to put the nation on a heightened state of military readiness, saying the lack of a president represented a national “emergency.” He also warned North Korea against making “additional provocations.”

The last time a South Korean leader was removed from office under popular pressure was in 1960, when the police fired on crowds calling for President Syngman Rhee to step down. (Mr. Rhee, a dictator, fled into exile in Hawaii and died there.)

In a sign of how far South Korea’s young democracy has evolved, Ms. Park was removed without any violence, after large, peaceful protests in recent months demanding that she step down. In addition to the swell of popular anger, the legislature and the judiciary — two institutions that have been weaker than the presidency historically — were crucial to the outcome.

“This is a miracle, a new milestone in the strengthening and institutionalizing of democracy in South Korea,” said Kang Won-taek, a political scientist at Seoul National University.

When crowds took to the streets, they were not just seeking to remove a leader who had one year left in office. They were also rebelling against a political order that had held South Korea together for decades but is now fracturing under pressures both at home and abroad, analysts said.

Ms. Park’s father ruled South Korea from 1961 to 1979. He founded its economic growth model, which transformed the nation into an export powerhouse and allowed the emergence of family-controlled conglomerates known as chaebol that benefited from tax cuts and anti-labor policies.

Ms. Park was elected in 2012 with the support of older conservative South Koreans who revered her father for the country’s breakneck economic growth.

But the nexus of industry and political power gave rise to collusive ties, highlighted by the scandal that led to Ms. Park’s fall.

The scandal also swept up the de facto head of Samsung, Lee Jae-yong, who was indicted on charges of bribing Ms. Park and her confidante, Ms. Choi.

Samsung, the nation’s largest conglomerate, has been tainted by corruption before. But the company has been considered too important to the economy for any of its top leaders to spend time behind bars — until now. The jailing of Mr. Lee, who is facing trial, is another potent sign that the old order is not holding.

In the wake of the Park scandal, all political parties have vowed to curtail presidential power to pardon chaebol tycoons convicted of white-collar crimes. They also promised to stop chaebol chairmen from helping their children amass fortunes through dubious means, like forcing their companies to do exclusive business with the children’s businesses.

With the conservatives discredited — and no leading conservative candidate to succeed Ms. Park — the left could take power for the first time in a decade. The dominant campaign issues will probably be North Korea’s nuclear weapons program and South Korea’s relations with the United States and China.

If the opposition takes power, it may try to revive its old “sunshine policy” of building ties with North Korea through aid and exchanges, an approach favored by China. That would complicate Washington’s efforts to isolate the North at a time other Asian nations like the Philippines are gravitating toward Beijing.

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.

Continue Reading
Comments

Government

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

Published

on

Yahaya Bello

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.

Continue Reading

Government

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

Published

on

NIMC enrolment

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.

Continue Reading

Government

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

Published

on

Israel Gaza

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.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending