"Financial Sector Unions Also Call for Impeachment, Saying President Yoon Is the Biggest Risk to the Economy"

Emergency Press Conference of the National Financial Industry Labor Union and the National Office Financial Services Labor Union

The financial sector labor unions have identified President Yoon Seok-yeol as the biggest uncertainty factor for the Korean economy and have called for his impeachment.

Yonhap News

On the 11th, the National Financial Industry Labor Union and the National Office and Financial Services Labor Union held an emergency press conference in front of the Financial Services Commission in Jongno-gu, Seoul, making these claims.

Kim Hyung-seon, chairman of the Financial Labor Union, emphasized that the uncertainty will not be resolved unless President Yoon is impeached. He said, "There are numerous talks about the crisis of the Korean economy both domestically and internationally, but this is ultimately due to the uncertainty caused by Yoon Seok-yeol," adding, "Without impeachment, economic uncertainty will not disappear."

They also demanded that Lee Chang-yong, Governor of the Bank of Korea, and Kim Byung-hwan, Chairman of the Financial Services Commission, clarify their stance on President Yoon’s impeachment.

Chairman Kim stated, "Instead of gathering ministers to debate about the Korean economy, they should promptly clarify their position on impeachment to remove the uncertainty," and warned, "If they do not clarify their stance, both Governor Lee and Chairman Kim will be defined as forces aiding treason that ruin the Korean economy."

Lee Jae-jin, chairman of the Office and Financial Services Labor Union, also argued that the greatest risk in the current market is political and that it is necessary for Governor Lee and Chairman Kim to express their positions. He also voiced criticism of the ruling party, the People Power Party, regarding their call for an orderly resignation.

Chairman Lee said, "Even though the economy is staggering, with the market capitalization of the Korea Composite Stock Price Index evaporating by 58 trillion won just three days after martial law was declared, President Yoon Seok-yeol and the People Power Party are still avoiding responsibility and mentioning an orderly resignation," adding, "The greatest risk in the current market is politics, and to resolve the current situation, the precise positions of Governor Lee and Chairman Kim are necessary."