ChainCatcher news, the Constitutional Court of Korea has officially opened the trial for the impeachment case against President Yoon Suk-yeol. It is reported that the first stage will be the "preparatory hearing" (also known as the "pre-trial conference"). During this period, the Constitutional Court will hold one or more hearings, where both sides, namely the National Assembly of Korea and Yoon Suk-yeol's side, will focus on organizing their respective positions, claims, evidence, and points of contention. After that, the Constitutional Court will choose an appropriate time to conduct court debates between the two parties until the final ruling is announced. (Jinshi)

ChainCatcher news, according to Jinshi reports, Citigroup economists Jin Zhenxu and Cui Zhou stated that the long-term political uncertainty surrounding the impeachment case of South Korean President Yoon Suk-yeol may weaken overall economic confidence and discretionary spending.They mentioned that if the South Korean legislature fails to pass the 2025 national budget in December, the possibility of the South Korean central bank continuing to cut interest rates in January would increase. They also added that developments in the political situation could lead to more capital outflows and pose an upside risk to the USD/KRW exchange rate.