South Korea's political crisis is set to escalate as the National Assembly prepares to vote on the impeachment of Acting President and Prime Minister Han Duck-soo on Friday. This comes amid the Constitutional Court's first hearing on the suspension of President Yoon Suk Yeol following his controversial martial law declaration on December 3.

The impeachment push, spearheaded by opposition leader Lee Jae-myung and the Democratic Party, which holds a parliamentary majority, accuses Han of "acting for insurrection." In a passionate speech, Lee declared, “The only way to normalize the country is to swiftly root out all the insurrection forces,” asserting the move aligns with public sentiment calling for accountability.

Opinion polls reveal widespread public support for Yoon's removal following his martial law attempt, further fueling tensions. However, the process remains mired in uncertainty. It is unclear whether a simple majority or a two-thirds majority is required to impeach Han in his acting presidential role. If Han is suspended, Finance Minister Choi Sang-mok would assume the acting presidency by law.

Finance Minister Choi, warning of potential economic repercussions, appealed to lawmakers to abandon the impeachment vote. “The economy and the people’s livelihoods are walking on thin ice under a national state of emergency,” Choi said, emphasizing the risks of deepening political instability.

The South Korean won has already plummeted to its lowest level since March 2009, with analysts attributing the slide to mounting uncertainty.

Meanwhile, President Yoon’s fate hangs in the balance as the Constitutional Court begins its review of his impeachment. The court has up to 180 days to decide whether to reinstate or permanently remove Yoon from office. If removed, a presidential election would be held within 60 days.

Yoon, who has faced allegations of insurrection and defiance of legal proceedings, will not attend the hearing. His legal team, composed of a former prosecutor and a former spokesperson for the Constitutional Court, is set to represent him.

The unfolding events place South Korea’s democratic stability under global scrutiny as the nation navigates uncharted political and legal challenges. Allies and citizens alike watch anxiously for resolutions to the crises gripping the country.