SEOUL // South Korea’s Constitutional Court removed impeached President Park Geun-hye from office in a unanimous ruling on Friday over a corruption scandal that has plunged the country into political turmoil and worsened an already-serious national divide.
But Park would not be leaving will not leave the presidential residence, the Blue House, on Friday, her spokesman Kim Dong-jo said.
The disgraced president has a private residence in the affluent Gangnam district of the capital, Seoul, but her spokesman said she could not yet return to it “due to security reasons.”
The court’s decision capped a stunning fall for the country’s first female leader, who rode a wave of lingering conservative nostalgia for her late dictator father to victory in 2012, only to see her presidency crumble as millions of furious protesters filled the nation’s streets.
Park’s “acts of violating the constitution and law are a betrayal of the public trust,” acting Chief Justice Lee Jung-mi said. “The benefits of protecting the constitution that can be earned by dismissing the defendant are overwhelmingly big. Hereupon, in a unanimous decision by the court panel, we issue a verdict: We dismiss the defendant, President Park Geun-hye.”
Two people died during protests that followed the ruling. Police and hospital officials said about 30 protesters and police officers were injured in the violent clashes near the court, which prompted the country’s acting head of state, prime minister Hwang Kyo-ahn, to plead for peace and urge Park’s angry supporters to move on.
The ruling opens Park up to possible criminal proceedings — prosecutors have already named her a criminal suspect — and makes her South Korea’s first democratically elected leader to be removed from office since democracy replaced dictatorship in the late 1980s.
It also deepens South Korea’s political and security uncertainty as the country faces threats from North Korea, reported economic retaliation from a furious China over Seoul’s cooperation with the US. on an anti-missile system, and questions in Seoul about the new Trump administration’s commitment to the security alliance between the two countries.
The chief justice accused Park of colluding with longtime confidante Choi Soon-sil to extort tens of millions of dollars from businesses and allowing Choi, a private citizen, to meddle in state affairs and see documents with state secrets. Those allegations were previously made by prosecutors, but Park has refused to submit to questioning, citing her immunity from prosecution as a sitting leader. That immunity has now gone.
Park’s lawyer, Seo Seok-gu, who had previously compared Park’s impeachment to the crucifixion of Jesus Christ, called the verdict a “tragic decision” made under popular pressure and questioned the fairness of what he called a “kangaroo court.”
South Korea must now hold an election within two months to choose Park’s successor. Liberal Moon Jae-in, who lost to Park in the 2012 election, currently enjoys a comfortable lead in opinion polls.
Pre-verdict surveys showed that 70 to 80 per cent of South Koreans wanted the court to approve Park’s impeachment. But there are also concerns that her removal would further polarise the country and cause violence.
Thousands of people — both pro-Park supporters, many of them dressed in army-style fatigues and wearing red berets, and those who wanted Park gone — gathered around the Constitutional Court building and a huge public square in downtown Seoul.
A big television screen was set up near the court so people could watch the verdict live. Hundreds of police were on hand, wearing helmets with visors and black, hard-plastic breastplates and shin guards. The streets near the court were lined with police buses and barricades.
Some of Park’s supporters reacted with anger after the ruling, shouting and hitting police officers and reporters with plastic flag poles and steel ladders, and climbing on police buses. Anti-Park protesters celebrated by marching in the streets near the presidential Blue House, carrying flags, signs and an effigy of Park dressed in prison clothes and tied up with rope.
An official from the Seoul National University Hospital said that a man of 72, believed to be a Park supporter, died from head wounds after falling from the top of a police bus. Another pro-Park protester died in hospital.
In a televised speech, Mr Hwang said, “There will be people who feel they cannot understand or accept (the court ruling), but it’s now time to move on and end all conflict and standoff.”
Park’s parliamentary impeachment in December came after weeks of Saturday rallies that drew millions demanding her resignation. Overwhelmed by the biggest rallies in decades, the voices of Park supporters were at first largely ignored, but . But they regrouped and their rallies grew more vociferous.
Prosecutors have arrested and indicted several high-profile figures over the scandal, including Park’s confidante Choi, top Park administration officials and Samsung heir Lee Jae-yong.
Since Park is no longer in power, prosecutors can summon, question and possibly arrest her. Her critics want to see Park appear on TV dressed in prison garb, handcuffed and bound like others involved in the scandal. But some analysts worry that could create a backlash by conservatives ahead of the presidential vote.
Mr Hwang will be in charge until a new president is elected, though it is uncertain he will run himself.
“Our country’s democracy had backslid in recent years,” Park Seung-jin, a 64-year-old former airport employee, said near the court. “I shed a lot of tears when I saw our young people come out to the streets to fight against the deep rooted evils, and I am happy for them now.”
. South Korea’s stocks and currency have remained resilient despite the crisis.
Read more on the top contenders to replace Park
The scandal exposed flaws in South Korea’s democracy after the country transitioned from dictatorship in 1987, according to Kim Sung-soo, professor of political science at Hanyang University in Seoul.
“Today’s ruling gives a good example that any leaders in the future should be punished when they abandoned their duty,” he said.
––* Associated Press
Student Of The Year 2
Director: Punit Malhotra
Stars: Tiger Shroff, Tara Sutaria, Ananya Pandey, Aditya Seal
1.5 stars
The Dark Blue Winter Overcoat & Other Stories From the North
Edited and Introduced by Sjón and Ted Hodgkinson
Pushkin Press
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
Torque: 250Nm
Price: Dh64,500
On sale: Now
Fixtures
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Dengue%20fever%20symptoms
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Results:
5pm: Maiden (PA) Dh80,000 2,200m | Winner: AF Al Montaqem, Bernardo Pinheiro (jockey), Ernst Oertel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,200m | Winner: Daber W’Rsan, Connor Beasley, Jaci Wickham
6pm: Handicap (PA) Dh85,000 1,600m | Winner: Bainoona, Fabrice Veron, Eric Lemartinel
6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: AF Makerah, Antonio Fresu, Ernst Oertel
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 | Winner: AF Motaghatres, Antonio Fresu, Ernst Oertel
7.30pm: Handicap (TB) Dh90,000 1,600m | Winner: Tafakhor, Ronan Whelan, Ali Rashid Al Raihe
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
THE SPECS
Cadillac XT6 2020 Premium Luxury
Engine: 3.6L V-6
Transmission: nine-speed automatic
Power: 310hp
Torque: 367Nm
Price: Dh280,000
SOUTH%20KOREA%20SQUAD
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Company%20profile
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Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
All%20We%20Imagine%20as%20Light
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
