[Yoon Seok-yeol Impeachment] Economic Groups "Respect Constitutional Court Decision... Time to Focus All Efforts on Economic Recovery" (Comprehensive)

Korea Economic Association: "Resolve National Division, Overcome Crisis"
Korea Employers Federation: "Government and National Assembly Should Demonstrate Leadership in Bipartisan Cooperation"
Korea Chamber of Commerce and Industry: "Normalize State Administration, Strive for Stabilization of People's Livelihoods"

Economic organizations emphasized on the 4th that they respect the Constitutional Court's decision to impeach President Yoon Seok-yeol and that efforts should be united for economic recovery and the stabilization of people’s livelihoods.

The Korea Economic Association issued a statement on the day, saying, "We hope that this decision will serve as an opportunity to resolve national division and unite all citizens to overcome the crisis facing the Republic of Korea."

The Constitutional Court impeached President Yoon Seok-yeol at around 11:22 a.m. that day. The effect of the impeachment took place immediately, and from that point, President Yoon lost his position.

Regarding the Constitutional Court’s ruling, the Korea Economic Association stated, "In the midst of a global industrial transformation, our economy is facing a complex crisis including worsening trade conditions, sluggish key industries, and domestic demand recession," adding, "Now is the time to focus all capabilities on economic recovery and revitalizing the livelihood economy." They also said, "The business community will do its best to fulfill its fundamental roles such as active investment and employment for a new leap forward of the Korean economy."

Citizens who had gathered near Anguk Station in Jongno-gu, Seoul, close to the Constitutional Court, to urge impeachment, are cheering immediately after the impeachment ruling on the 4th, the day of President Yoon Suk-yeol's impeachment verdict. Photo by Jo Yong-jun

On the same day, the Korea Employers Federation also stated regarding President Yoon’s impeachment, "We must end the severe political and social confrontation and conflict caused by the impeachment crisis and focus our capabilities on social integration and stability."

The Federation said, "The business community respects the Constitutional Court’s decision," and added, "We hope the government and the National Assembly will demonstrate leadership in cooperation beyond party lines so that the social confusion caused by the gap in state administration and national division can be resolved quickly." They further suggested, "All economic actors, including labor and management, should faithfully perform their respective roles and unite their efforts to stabilize society and revitalize our economy."

The Korea Chamber of Commerce and Industry also stated on the day, "Currently, our economy is facing complex domestic and international challenges such as domestic demand recession, weakening competitiveness of key industries, U.S. tariff measures, and the spread of protectionism," emphasizing, "Considering the severe economic situation, the state administration must be normalized quickly beyond social confrontation and conflict." They added, "We hope efforts for economic recovery and stabilization of people’s livelihoods will continue."