Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok. / News1

The Democratic Party of Korea plans to pass an impeachment motion against acting president Han Duck-soo in a National Assembly plenary session on Dec. 27. Regardless of whether an acting president can be impeached by a simple majority rather than a two-thirds vote, it is highly likely that Han will no longer be able to perform his duties politically. Another impeachment would plunge the country into an unprecedented situation in which an acting president would be replaced by yet another acting leader.

Under current law, Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok would take over, assuming the role of acting president, acting prime minister, and finance minister all at once. Such a scenario would be unthinkable in any stable democracy. The South Korean economy, still fragile from the aftermath of the martial law debacle, has just begun to show signs of recovery. The trust and commitment demonstrated by Korea’s allies, including the United States and Japan, have been crucial to stabilizing the economy.

But what would happen if South Korea ended up with an acting president of an acting president? After the martial law incident, the economy suffered a shock marked by foreign investors selling off Korean stocks, the won’s sharp depreciation against the dollar, and consumer and investment sentiment indicators dropping to the lowest levels since the 2008 global financial crisis. Korea’s sovereign credit rating remains intact, but the situation remains precarious, with the efforts of the Han administration holding it together by a delicate thread.

A second acting president would heighten the country’s political risks and trigger a second economic shock. The value of the won is likely to decline sharply, raising dollar borrowing costs. Adding potential higher tariffs under a second Trump administration would make economic recovery even more challenging.

The Democratic Party seems to expect Deputy Prime Minister Choi to comply with their demands. But what if he adheres to the same principles as current acting president Han? Will they move to impeach him as well? Will there be a third acting president? At what point does this cycle end, and what would become of the country then?

A Democratic Party spokesperson recently claimed that it is possible to impeach five cabinet members simultaneously. Such a scenario risks paralyzing the government as it prevents the cabinet from meeting its quorum. The opposition party is suggesting that they do not mind pushing the country into anarchy and chaos. The Democratic Party must abandon its impatience and obsession with an early presidential election and work towards a resolution through compromise with the ruling party. Such an approach would be far more persuasive to the public than heavy-handed political pressure.