„Yoons Kriegsrecht, ein BIP-Killer in Südkorea … 51 Millionen Bürger müssen in Raten zahlen“ Forbes‘ Warnung

Amid ongoing domestic and international criticism of President Yoon Suk-yeol’s declaration of martial law, the American business magazine Forbes has joined the criticism, using the expression “Yoon is a GDP killer.”

On the 6th (local time), Forbes published an article titled “Why Yoon’s Desperate Stunt Is a South Korea GDP Killer,” shedding light on the economic and political repercussions of the martial law declaration in South Korea. The magazine stated, “When investors think of enforcers of martial law in modern Asia, they think of Indonesia, Myanmar, the Philippines, Thailand, and now Korea,” adding sarcastically, “That is a ‘great’ legacy.” This suggests that South Korea’s international reputation has deteriorated.

Forbes assessed that South Korea’s 27-year effort since the IMF financial crisis to avoid becoming a negative example of a developing country has been undone by this martial law situation. Regarding President Yoon’s martial law, Forbes pointed out, “It is merely a political gamble to check the opposition under the pretext of eradicating anti-state forces,” and criticized, “He should have considered more moderate and effective measures.”

Forbes also presented a pessimistic view of South Korea’s economic outlook for next year. It predicted that the global economic slowdown, the possibility of Donald Trump’s return to power, and the economic downturn in China, a major export destination, would further complicate the South Korean economy, adding, “The prospect of the South Korean government responding promptly has virtually disappeared.”

The martial law and its aftermath are expected to undermine the trust of global investors, accelerating instability in exchange rates and financial markets. Forbes predicted that President Yoon’s political gamble would fail, leading to a deepening of the “Korea Discount” phenomenon. Regarding Deputy Prime Minister for Economy Choi Sang-mok’s statement that “the foreign exchange and financial markets are being managed stably despite changes in the domestic political situation,” Forbes retorted, “If the martial law situation has permanently damaged the trust of foreign companies and investors, his opinion is wrong.”

Forbes also strongly criticized President Yoon’s overall economic policies. It assessed, “President Yoon has made no progress in solving South Korea’s chronic social and economic problems, such as resolving gender inequality, reversing the birth rate decline, and reducing export dependency,” and predicted that his martial law situation would have a further negative impact on the South Korean economy.

Furthermore, Forbes warned, “President Yoon’s martial law situation has deepened South Korea’s political paralysis.” It added, “If President Yoon had served out his remaining term instead of declaring martial law, South Korea would have been in a better situation, but in the end, 51 million citizens will pay the price of a selfish political gamble in installments.”