👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Who is Han Duck-soo, South Korea's impeached acting president?

Published 12/27/2024, 04:32 AM
Updated 12/27/2024, 04:50 AM
© Reuters. FILE PHOTO: Acting South Korean President and Prime Minister Han Duck-soo delivers an address to the nation at the government complex in Seoul, South Korea, December 14, 2024.   Yonhap via REUTERS/File Photo
FLNT
-

By Joyce Lee

SEOUL (Reuters) -Prime Minister Han Duck-soo, who was impeached on Friday as South Korea's acting president, is a career technocrat whose wide-ranging experience and reputation for rationality failed to shield him from growing political turmoil.

Since parliament's impeachment vote against President Yoon Suk Yeol passed on Dec. 14 after his short-lived martial law declaration on Dec. 3, Yoon's exercise of presidential powers was suspended as Han took over in an acting role.

"It is my life's honour that I have been able to serve the people with all my might," Han said after parliament voted to impeach him by a majority of 192 out of 300.

Han will suspend his duties to minimise uncertainty and wait for a decision by the Constitutional Court on whether to remove him from office as well, he added in a statement.

Finance Minister Choi Sang-mok now assumes the role of acting president, in line with the law.

In a country sharply divided by partisan rhetoric, Han has been a rare example of an official whose varied career transcended party lines.

He faced the challenging task of keeping government functioning through its gravest political crisis in four decades, while also tackling threats from nuclear-armed neighbour North Korea, and a slowing economy at home.

However, his tenure as acting president was cut short as the main opposition Democratic Party, which controls parliament, voted on Friday to impeach Han as well over a battle on Constitutional Court appointments.

The move comes as South Korea is still reeling from Yoon's martial law attempt, which he partly blamed on the opposition's propensity to impeach government officials.

Han, 75, has served in leadership positions for more than three decades under five presidents, both conservative and liberal.

His roles have ranged from prime minister, finance minister and trade minister to presidential secretary for policy co-ordination, besides being ambassador to the United States and the OECD and heading up think-tanks and organisations.

With a Harvard doctorate in economics, Han's expertise in the economy, trade and diplomacy as well as a reputation for rationality, a moderate demeanour and hard work had made him a regular go-to man in South Korean politics.

Han has been prime minister since Yoon's term began in 2022, his second time in the role after a stint under former president Roh Moo-hyun in 2007-2008.

"He has served in key posts in state affairs solely through recognition of his skills and expertise, unrelated to political factions," Yoon said when appointing Han in 2022, echoing descriptions used when previous administrations tapped him.

Han has experience working with South Korea's key ally the United States, having been deeply involved in the process of signing the U.S.-South Korea Free Trade Agreement.

Fluent (NASDAQ:FLNT) in English, he was appointed South Korea's ambassador to the United States in 2009, working in Washington at a time when current U.S. President Joe Biden was vice president, and contributed to Congress approving the free trade deal in 2011.

"He is a civil servant through and through, who didn't take on a political colour despite working under (five presidents)," said a former high-ranking government official speaking on condition of anonymity.

Han's acting presidency had been expected to last for months, until the Constitutional Court decided whether to remove Yoon or restore his powers. If Yoon is removed, a presidential election must be held in 60 days.

© Reuters. Impeached South Korea's Prime Minister Han Duck-soo leaves the government complex in Seoul, South Korea, December 27, 2024.    Yonhap via REUTERS

South Korea's constitution does not say how much the acting president is empowered to do in the role.

Most scholars say he may exercise limited authority to avoid paralysis of state affairs but no more, although some say he can exercise all presidential powers, as the constitution sets no restrictions.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.