SEOUL, SOUTH KOREA – South Korean stocks experienced a sharp decline on Wednesday following political chaos surrounding President Yoon Suk Yeol’s temporary imposition of martial law. The Kospi index dropped by 2.3%, while the Kosdaq fell by 2%. Notably, shares of Samsung Electronics, LG Energy Solution, and Hyundai Motor all faced significant losses during this tumultuous period.

The situation escalated when opposition parties moved to impeach President Yoon Suk Yeol, prompting the country’s parliament to convene and ultimately vote to lift the declared martial law. The speaker of parliament invalidated the martial law announcement, marking a crucial turn of events in South Korea’s political landscape.

Amidst the crisis, South Korea’s finance ministry reassured the markets of its preparedness to inject “unlimited liquidity” to maintain stability if needed. The country’s currency, the won, began to recover slowly after a dramatic fall against the U.S. dollar following the president’s surprise declaration.

Meanwhile, in the tech world, Meta Platforms Inc., led by CEO Mark Zuckerberg, expressed a desire to play an active role in shaping tech policies with the incoming U.S. administration. This move hints at a potential shift in relations between Zuckerberg and President-elect Donald Trump, who had been critical of the tech executive in the past due to platform bans.

Additionally, Salesforce Inc. reported its third quarter fiscal 2025 financial results, demonstrating growth in revenue and subscriptions despite somewhat mixed results and guidance. CEO Marc Benioff highlighted the significance of Agentforce, an AI system for enterprises integrated into the Salesforce Platform, in driving transformative changes in global labor dynamics.

As the markets await further developments, premarket indicators suggest a positive start with Dow, S&P, and Nasdaq futures in the green. Crude oil prices are up, while Bitcoin continues to rise. In the global markets, the FTSE 100 shows a slight decline, while the DAX is on the rise.

Overall, the events unfolding in South Korea and the tech industry, along with financial insights from companies like Salesforce, provide a snapshot of the current economic landscape. Investors and stakeholders around the world will be closely monitoring these developments for potential implications on market trends and business strategies.