According to Yonhap news agency, the Constitutional Court of South Korea has initiated the process of reviewing the National Assembly's resolution to impeach President Yoon Suk-yeol regarding his attempt to impose martial law.

The impeachment resolution against Yoon Suk-yeol was submitted to the Constitutional Court by Jung Chung-rae, chairman of the National Assembly's Judiciary Committee, at 6:15 p.m. local time.

Acting Chief Justice Moon Hyung-bae said he will convene a meeting of judges at 10 a.m. on December 16, and pledged to proceed with the trial.

The court also decided to select two judges to oversee the examination of evidence and set up a legal review working group of constitutional scholars.

Meanwhile, Chairman of the ruling People's Power Party (PPP), Mr. Han Dong-hoon, said he seriously considered the results of the vote and pledged that the PPP would correct mistakes, protect the constitution, democracy and the people.

Amid developments in South Korean politics, business groups have called on the government to take measures to limit the negative impact on the market from Mr. Yoon's impeachment.

According to analysts, the impeachment decision will help reduce uncertainties in the market, the won may recover, but the period without a head of government also has certain risks.

Earlier, the won and the South Korean stock market had fallen to their lowest levels of the year following unrest related to President Yoon Suk-yeol's martial law declaration.

Responding to the developments in Seoul, the European Union (EU) stressed the need for a “quick and orderly” solution, in accordance with the Constitution, to the current political crisis in South Korea. The EU affirmed that South Korea is an important strategic partner of the bloc.

Meanwhile, Russia expressed hope that changes in the South Korean government would not hinder efforts to restore bilateral relations.

From Japan, Defense Minister Gen Nakatani stressed that he will continue to maintain close contact with the South Korean side following recent developments.