South Korea's political crisis must spur economic reforms

Abandoning outdated trickle-down economics and fiscal austerity will be crucial

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Impeached President Yoon Suk Yeol sits at his trial at the Constitutional Court on Feb. 6 in Seoul. © Reuters

Kang-Kook Lee is a professor at Ritsumeikan University's Graduate School of Economics in Japan.

President Yoon Suk Yeol's sudden and short-lived declaration of martial law on Dec. 3 was a great shock to South Koreans and the world. In the ensuing political crisis, he was impeached by the National Assembly and then resisted investigation. The acting president was impeached, and Yoon was finally arrested and detained. He now faces trial on a charge of insurrection.

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