Pacific Money

After Impeachment Verdict, Korea’s ‘Fresh Start’ On Reform Begins Again

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Pacific Money

After Impeachment Verdict, Korea’s ‘Fresh Start’ On Reform Begins Again

Will a new president be able to jump-start a sluggish economy?

After Impeachment Verdict, Korea’s ‘Fresh Start’ On Reform Begins Again
Credit: Wikimedia Commons/ Jimmy McIntyre

Ousted South Korean President Park Geun-hye has left the presidential palace, after being formally removed from office Friday by the Constitutional Court over a corruption scandal. For Asia’s fourth-biggest economy, will Park’s departure deliver the “fresh start” on reform originally promised under her leadership?

Signs of a new beginning were not obvious Friday, at least on Korean financial markets. Despite the political damage from the scandal inflicted on the nation’s powerful “chaebol” conglomerates, with the heads of nine groups questioned and the arrest of Samsung boss Jay Y. Lee, the market barely moved.

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