The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: Apr. 6.

Nearly 70% of South Koreans say former President Yoon Suk-yeol should steer clear of the upcoming election campaign following his ouster by the Constitutional Court, a new poll shows, even as nearly half of respondents reject the court’s decision. /News1
Nearly 70% of South Koreans say former President Yoon Suk-yeol should steer clear of the upcoming election campaign following his ouster by the Constitutional Court, a new poll shows, even as nearly half of respondents reject the court’s decision. /News1

Majority oppose Yoon’s return to politics following impeachment, poll finds

Following former President Yoon Suk-yeol’s removal from office by the Constitutional Court, a new poll found that nearly 70% of South Koreans believe he should stay out of the upcoming election campaign, though about 45% said they do not accept the court’s decision. The survey also showed deep divisions over the direction of the next presidential race, with top concerns including reckoning with the Yoon administration, national unity, and the economy. On the opposition side, Democratic Party leader Lee Jae-myung led potential presidential candidates by a wide margin.

South Korea is preparing $2.5 billion in emergency policy financing to support its auto industry, as the sector reels from a 25% U.S. tariff on imported vehicles that threatens nearly half of Korean car exports to the American market. /Yonhap News

S. Korea plans $2 bn emergency aid for auto sector hit by U.S. tariffs

South Korea plans to provide $2 billion in emergency policy financing to support its auto industry following the United States’ decision to impose a 25% tariff on imported vehicles, a move expected to significantly impact Korean car exports. Authorities also plan to launch a separate $34.2 billion fund over five years to boost future mobility sectors like electric vehicles, while financial regulators prepare to assess industry liquidity and ensure steady credit flows. The U.S. accounted for nearly half of South Korea’s auto exports in 2024, with analysts warning exports could drop by up to 18.6% this year.

South Korea’s economy barely grew in the final quarter of 2023, trailing most major economies as weak domestic demand and political uncertainty continued to drag on growth. /News1

South Korea’s economy stumbles in Q4; first-quarter rebound in doubt

South Korea’s economy grew just 0.06% in the fourth quarter of 2023, ranking 29th out of 37 OECD countries, as weak domestic demand and political uncertainty continued to drag on growth. Economists warn that the country could face negative growth in the first quarter of 2024, with consumer sentiment shaken by wildfires, political turmoil, and a slowdown in exports. January exports fell 9.1% year over year, raising doubts about the central bank’s modest 0.2% growth forecast.

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