South Korea in 2024: Political Uncertainty, Economic Challenges, and Cultural Ascendancy

In South Korea, 2024 concluded with unprecedented political turmoil when President Yoon Suk-yeol declared martial law on December 3rd, which was then lifted within six hours. Earlier in the year, the opposition Democratic Party solidified its legislative dominance after a landslide victory in the 22nd National Assembly election, further constraining Yoon’s administration, which was already weakened by scandals involving first lady Kim Keon-hee. On the international front, the re-election of US President Donald Trump ushered in a more transactional approach to alliances, complicating South Korea’s response to North Korea’s escalating militarization. Domestically, rising interest rates, a stagnant housing market, and record-low birth rates fueled debates over urgent reforms. Amid these challenges, South Korea achieved significant cultural milestones, including Han Kang’s Nobel Prize in Literature and the global success of Rosé’s hit song “Apt.,” reaffirming the nation’s growing cultural influence on the global stage.