A protester holds a placard to condemn South Korean President Yoon Suk Yeol's surprise declaration of martial law. Reuters
A protester holds a placard to condemn South Korean President Yoon Suk Yeol's surprise declaration of martial law. Reuters
A protester holds a placard to condemn South Korean President Yoon Suk Yeol's surprise declaration of martial law. Reuters
A protester holds a placard to condemn South Korean President Yoon Suk Yeol's surprise declaration of martial law. Reuters


Few believed martial law was the way for South Korea - that's why it failed


  • English
  • Arabic

December 04, 2024

South Korea's declaration of martial law on Tuesday night, and then abrupt reversal a few hours later, came as a shock to the vast majority of the country's population. Martial Law Commander Army General Park Ann-soo had been forthright. The move came, he said in a statement, "to protect liberal democracy and ensure public safety in the Republic of Korea against the threat posed by anti-state forces conspiring to overthrow the nation's system".

The country’s Parliament disagreed, with lawmakers voting unanimously to lift martial law in the early hours of Wednesday.

Outside observers may have been surprised by the upheaval; to them, the country may seem to have been a relatively stable democracy since 1988 and the establishment of the Sixth Republic. But its politics have been extraordinarily fractious and, some might claim, vindictive. Since then, five ex-presidents have been subject to criminal investigations; four were sentenced to jail and one died by suicide. The current leadership faces an opposition-controlled National Assembly, which, it says, has "paralysed the administration", impeaching members of its cabinet and blocking legislation. President Yoon Suk-yeol now faces calls to resign, and possible impeachment himself.

Regional leaders will be careful in their responses. South Korea is an important trading partner, and while many do not wish to take sides in any US-China rivalry they do not, in private, object to the country's alliance with America. They may not say so publicly, but if managed carefully, they see that alliance as being able to contribute to balance in the Asia-Pacific. And beyond expressions of "concern", they will not wish to involve themselves in the internal politics of a nearby friend. The principle of "non-interference" is a key pillar of regional organisations such as the Association of South-East Asian Nations (Asean).

  • South Korean President Yoon Suk Yeol delivers a speech to declare martial law in Seoul, South Korea, on Tuesday. Reuters
    South Korean President Yoon Suk Yeol delivers a speech to declare martial law in Seoul, South Korea, on Tuesday. Reuters
  • South Korean soldiers try to get into the National Assembly on December 4 in Seoul. Getty Images
    South Korean soldiers try to get into the National Assembly on December 4 in Seoul. Getty Images
  • South Korean troops enter the parliament building in Seoul during President Yoon Suk Yeol's short-lived attempt to impose martial law. AFP
    South Korean troops enter the parliament building in Seoul during President Yoon Suk Yeol's short-lived attempt to impose martial law. AFP
  • Soldiers try to enter the main hall of the National Assembly. AFP
    Soldiers try to enter the main hall of the National Assembly. AFP
  • Barricades at the National Assembly. Getty Images
    Barricades at the National Assembly. Getty Images
  • Members of South Korea's main opposition Democratic Party set up barricades at an entrance to the National Assembly building. AFP
    Members of South Korea's main opposition Democratic Party set up barricades at an entrance to the National Assembly building. AFP
  • Protesters clash with police officers. EPA
    Protesters clash with police officers. EPA
  • People surround a military vehicle. EPA
    People surround a military vehicle. EPA
  • South Korea's National Assembly speaker Woo Won-shik passes a resolution demanding the immediate lifting of martial law at the National Assembly. AFP
    South Korea's National Assembly speaker Woo Won-shik passes a resolution demanding the immediate lifting of martial law at the National Assembly. AFP
  • South Korea's main opposition Democratic Party leader Lee Jae-myung speaks to the media at the National Assembly. AFP
    South Korea's main opposition Democratic Party leader Lee Jae-myung speaks to the media at the National Assembly. AFP
  • Lawmakers and members of the South Korea's main opposition Democratic Party demonstrate against the country's president at the National Assembly. Getty images
    Lawmakers and members of the South Korea's main opposition Democratic Party demonstrate against the country's president at the National Assembly. Getty images
  • Lee Jae-Myung, centre, leader of the opposition Democratic Party, stands in front of the National Assembly. EPA
    Lee Jae-Myung, centre, leader of the opposition Democratic Party, stands in front of the National Assembly. EPA
  • Police vehicle sprays tear gas at tens of thousands of student demonstrators in downtown Seoul. AP
    Police vehicle sprays tear gas at tens of thousands of student demonstrators in downtown Seoul. AP
Politics have been extraordinarily fractious and, some might claim, vindictive

More widely, however, and especially in foreign policy and security circles, the sentiment will go beyond "concern" about the – albeit brief – establishment of martial law. For the region has extensive experience of variants of this policy, and it has rarely proved to be beneficial in the long run. When Gen Ne Win seized power in Myanmar in 1962, for instance, it may well have been the case that the country was in danger of disintegration. But the "Burmese Way to Socialism" that he pursued until he stepped down in 1988 reduced a state once known as the "rice basket of South-East Asia" to what the UN called a "least developed country". The February 2021 military coup, after a decade of hybrid democracy, has led to a prolonged civil war, a humanitarian crisis and more than three million people displaced.

Similarly, when then president Sukarno declared martial law in Indonesia in 1957, it was partly in reaction to the grave instability in the country at the time. But it also served to further empower the armed forces that effectively forced him from power in 1966 and then ran the country under the New Order regime until 1998. In the Philippines, when then president Ferdinand Marcos instituted martial law in 1972, it was the turning point after which a formerly popular politician moved to what he called an ideology of "constitutional authoritarianism". Others would use stronger words to describe his subsequent rule.

In Cambodia, then prime minister Lon Nol introduced martial law in 1970, but was so brutal in suppressing a rebellion that had broken out, that he “inadvertently” drove “many peasants into supporting the Communist Party of Kampuchea, also known as the Khmer Rouge”, as a US Department of Defence study put it. The Khmer Rouge would later drive him from power in 1975 and led a genocidal regime that led to the deaths of nearly 25 per cent of the population, until Vietnam invaded and toppled the administration in 1979.

Thailand has a history of military coups d’etat, with the most recent imposition of martial law being from 2014 to 2015. Again, the reason given may have been "to preserve law and order", but most analysts believe that military rule can only ever freeze the country’s deep political divisions, not resolve them.

South Korea has its own experiences of martial law as well, but it had not, until Tuesday, been declared for 44 years. The country has in fact been held up as a model of the democratic system, even hosting the third Summit for Democracy in May this year. Not everyone would put it on quite such a pedestal, but a Chatham House report in 2022 nevertheless concluded that “the challenges of contemporary South Korean politics are neither intractable nor a sign of irreconcilable differences”.

However, whatever troubles the country and its current leadership may be facing, and whatever uncharted waters may lie ahead, there appear to be few, either in South Korea or the wider region, who believe that martial law is a realistic solution. South-East and East Asia have undergone lengthy periods of such rule. Most believe it belongs, and deserves to belong, in the history books.

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

MATCH INFO

Qalandars 112-4 (10 ovs)

Banton 53 no

Northern Warriors 46 all out (9 ovs)

Kumara 3-10, Garton 3-10, Jordan 2-2, Prasanna 2-7

Qalandars win by six wickets

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

Fifa Club World Cup quarter-final

Esperance de Tunis 0
Al Ain 3
(Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)

if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

UAE SQUAD

Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani

Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh

Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani

Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
Company profile

Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

RIVER%20SPIRIT
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3ELeila%20Aboulela%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Saqi%20Books%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPages%3A%3C%2Fstrong%3E%20320%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

New schools in Dubai
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

What%20is%20Dungeons%20%26%20Dragons%3F%20
%3Cp%3EDungeons%20%26amp%3B%20Dragons%20began%20as%20an%20interactive%20game%20which%20would%20be%20set%20up%20on%20a%20table%20in%201974.%20One%20player%20takes%20on%20the%20role%20of%20dungeon%20master%2C%20who%20directs%20the%20game%2C%20while%20the%20other%20players%20each%20portray%20a%20character%2C%20determining%20its%20species%2C%20occupation%20and%20moral%20and%20ethical%20outlook.%20They%20can%20choose%20the%20character%E2%80%99s%20abilities%2C%20such%20as%20strength%2C%20constitution%2C%20dexterity%2C%20intelligence%2C%20wisdom%20and%20charisma.%20In%20layman%E2%80%99s%20terms%2C%20the%20winner%20is%20the%20one%20who%20amasses%20the%20highest%20score.%3C%2Fp%3E%0A
Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

MATCH INFO

Asian Champions League, last 16, first leg:

Al Jazira 3 Persepolis 2

Second leg:

Monday, Azizi Stadium, Tehran. Kick off 7pm

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%204-cylinder%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20101hp%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20135Nm%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%20Six-speed%20auto%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh79%2C900%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
MATCH INFO

Uefa Champions League semi-final, first leg

Tottenham v Ajax, Tuesday, 11pm (UAE).

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

Games on BeIN Sports

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

The biog

Place of birth: Kalba

Family: Mother of eight children and has 10 grandchildren

Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken

Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah

Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”

ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

'Panga'

Directed by Ashwiny Iyer Tiwari

Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta

Rating: 3.5/5

Updated: December 04, 2024, 12:09 PM