As the impeachment motion against Acting President Han Duck-soo was passed in the National Assembly on the 27th, the business community expressed unanimous concern. The uncertainty arises from the possibility that if Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok succeeds the acting president, it could further diminish the capacity to address an already worsening economic situation.
A representative from the Korea Chamber of Commerce and Industry said, "As we gain external confidence in the stability of macro indicators and the resilience of our economy, the unprecedented situation of impeachment against the acting president prime minister has heightened economic uncertainty," and added, "The impacts on our economy, including soaring exchange rates, falling credibility, rising prices, and accelerating domestic recession, are very concerning."
He also noted, "Despite the domestic political situation, the business sector is making its best effort to focus on its fundamental activities, discussing ways to overcome economic and livelihood challenges with the government and both ruling and opposition parties," and urged, "We earnestly appeal for the political sector to focus solely on the nation and the livelihood economy and to act promptly to minimize the vacuum in governance."
The Korea Enterprises Federation stated, "We urge the political sector to unite efforts so that the current impeachment crisis stabilizes quickly, allowing all citizens to return to their daily lives and corporations to fulfill their essential roles."
A representative from the Korea Economic Association warned, "If there is any turbulence or vacancy in governance as a result of the impeachment of the acting president, it could severely impact the fundamentals and credibility of the Korean economy," and insisted, "All national capabilities must be mobilized to maintain the continuity of governance and stabilize the economy and people's livelihoods."
A representative from the Korea Federation of Small and Medium Enterprises expressed regret over the passing of the impeachment motion, saying, "The political and economic uncertainties are growing, and it is feared that this will seriously affect external credibility."
He added, "Small business owners are feeling disheartened as extreme consumer recession has led to the cancellation of year-end gatherings and group travel reservations, while exporting small and medium enterprises are having their profitability worsened due to unilateral contract cancellations stemming from the 'Korea Discount' and soaring prices of imported raw materials due to increased exchange rates," and urged, "The ruling and opposition parties should halt their political conflicts and cooperate across party lines for recovery in people's livelihoods."