South Korean President Ousted, Creating a Power Vacuum and a PR Crisis
After weeks of flaming accusations from both sides and very public negative headlines about Park Geun-Hye, the now-former South Korean President was forcibly removed from office. The timing is certainly not the best, as North Korea is acting up and China is pushing more boundaries, especially in the oceans and seas around the peninsular Korea and its larger neighbor. But, if the charges being leveled are true, the government may not have had much of a choice, given the depth and breadth of the graft scandal enveloping Park Geun-Hye’s administration. That’s not to say the decision was a universally popular one. The ruling to oust the president set off massive, sometimes violent, protests. Two of Park’s supporters were killed just outside the courthouse where the ruling was passed down when they fought with police. Near this clash between protesters and police, those who supported ousting of Park celebrated, creating what many news agencies called a “festive” environment. These two scenes set up a clearly divided South Korean populace, many enraged, others exultant … and millions more caught in between, watching their country suffer a major power vacuum and multilayered government suspicion. On one hand, proper investigation of this situation was necessary, and that takes time. On the opposite hand, it’s imperative that South Korea have strong and stable leadership in this time. With that in mind, a new presidential election is expected to be held in about two months. In the meantime, the country, both Park’s group and the opposition, are without a clear leader. Park has made no comment since being stripped of her power in recent weeks. Spokesmen said she had no plans to leave the presidential residence, called the Blue House, due to the distinctive blue tile roof. That’s really no longer up to her, though. The chief judge ruling in the case, Lee Jung-Mi, said Park transgressed the law multiple times throughout her term, then concealed the truth and attacked critics. These comments sparked another round of rage and celebration from factions nationwide. Despite how heated the issue is at the moment, it could get fundamentally worse if Park is charged with any crimes. Now that she no longer has immunity, she could face prosecution for bribery, extortion, conspiracy, and other abuses of power. Should Park be charged and, then, convicted, it could create a political and public relations firestorm in a country already terribly distracted by this mess. The rift between partisans could deepen, creating
major conflicts at home when South Koreans really need to be focused on moves being made by other nearby nations in that region, both allies and enemies. Daniel Palmier is a leading Boston CEO, Real Estate Investment Manager, and Founder of UC Funds.