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South Korea's Yoon, facing historic arrest over martial law allegations, pledges to "fight until the end."

South Korea's impeached President Yoon Suk Yeol has vowed to "fight until the end" as authorities seek to arrest him over last month’s brief imposition of martial law, his lawyer said Thursday.

The timing of Yoon's arrest remains unclear, with his presidential security service blocking investigators' access to his office and residence. Police clashed with Yoon’s supporters on Thursday as they tried to block roads near his residence.

In a letter to supporters, Yoon expressed gratitude, stating, "I will fight until the end to protect this country together with you." The opposition Democratic Party, which led to Yoon's impeachment on Dec. 14, accused him of inciting unrest and labeled him "delusional."

Yoon declared martial law on Dec. 3 to resolve a political deadlock, but 190 lawmakers swiftly overturned the decree. He rescinded it six hours later. A court has since approved a warrant for his arrest on insurrection charges, making him the first sitting president to face such action.

The Corruption Investigation Office for High-ranking Officials (CIO), leading the probe, has until Jan. 6 to execute the warrant. Yoon’s lawyer has called the warrant illegal and warned police against attempting to detain him.

Meanwhile, Yoon’s impeachment trial is ongoing at the Constitutional Court, which will determine whether he is permanently removed from office. If upheld, a presidential election must be held within 60 days.

Separately, a former defense minister and several military officers involved in the martial law plans have been indicted, with trials set to begin in January.

Finance

South Korea lowers 2025 growth forecast to 1.8% from 2.2%, citing a weak export outlook.

The finance ministry announced Thursday that South Korea's economy is projected to grow by 1.8 percent in 2024, a significant downgrade from the 2.2 percent forecast made in mid-2023.

The revision reflects weak export performance, attributed to declining global competitiveness in key industries and trade uncertainties stemming from the second Trump administration. Export growth is expected to drop sharply to 1.5 percent, compared to 8.2 percent last year.

Adding to the economic strain is the political fallout from President Yoon Suk Yeol's martial law declaration on Dec. 3, which led to his impeachment and heightened financial instability. The government emphasized priorities such as stabilizing South Korea's global credit rating and reviving sluggish domestic spending.

The 1.8 percent growth estimate is below projections from major institutions, including the OECD (2.1%), IMF (2%), and Bank of Korea (1.9%). The martial law crisis has impacted financial and foreign exchange markets, compounding challenges like weak consumer confidence, rising debt costs, and persistent inflation.

The tragic Jeju Air plane crash has further weighed on economic sentiment, causing declines in key indicators.

While it remains unclear if the government will shift from fiscal conservatism to stimulus measures, BOK Governor Rhee Chang-yong suggested limited, targeted extra budgets could support vulnerable groups, particularly low-income earners and the self-employed, amid the prolonged economic slowdown.

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K-pop

How do Blackpink and BTS make the world crazy?

The 2025 K-pop scene promises excitement with the return of BTS and Blackpink, alongside debuts from major agencies like SM Entertainment, YG Entertainment, and JYP Entertainment. Industry insiders expect world tours by leading acts to further cement K-pop's global influence this year.

However, the industry faces challenges, including addressing the treatment of young trainees and idols' calls for better working conditions—issues that experts believe will take significant effort to resolve.

The return of BTS, with all members completing military service by June, is anticipated to be the year's biggest event. While Hybe has not announced new music plans, music critic Lim Hee-yun predicts the group will organize fan events rather than release a new album immediately. A key concern remains how Hybe will address Suga’s drunk-driving incident last year.

Blackpink’s new album and world tour are also major highlights. Lim expects strong synergy among members Jennie, Lisa, and Rose, all of whom saw success with solo projects.

Groups like Stray Kids are expected to contribute significantly to K-pop's global growth through world tours. Music critic Kim Do-heon emphasized that while BTS's return will dominate attention, the rise of global boy bands and their tours will sustain the industry's momentum.

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