Amid political chaos, Bank of Korea says it will boost short-term liquidity and deploy measures to stabilize the FX market

In our view, the negative impact to the economy and financial market could be short-lived as uncertainties on [the] political and economic environment could be quickly mitigated on the back of proactive policy response,

Citi analysts said in a note

This martial law action appears orchestrated by the 'Chungam faction,' with (Defense) Minister Kim directly coordinating with President Yoon."

A source said

It is difficult to confirm which units were deployed."

A military official said

Lee Jae-myungleader

President Yoon declared emergency martial law for no reason,

Lee said

To safeguard a liberal South Korea from the threats posed by North Korea's communist forces and to eliminate anti-state elements... I hereby declare emergency martial law,

Yoon said in a live televised address to the nation