Seoul: A court has sentenced former President Yoon Suk Yeol to life imprisonment following his attempt to impose martial law in 2024. In the first ruling of its kind, the Seoul Central District Court found Yoon guilty of leading an insurrection through his martial law endeavor. Despite special prosecutors recommending the death penalty, the court opted for a lighter sentence.

According to Yonhap News Agency, the South Korean stock market experienced a significant milestone on the same day as Yoon's sentencing. The benchmark Korea Composite Stock Price Index (KOSPI) soared past the 5,600-point threshold for the first time, closing at 5,677.25 points. This surge was fueled by substantial gains in semiconductor and blue-chip tech shares, driven by optimism surrounding artificial intelligence. Meanwhile, the local currency depreciated against the U.S. dollar.

In a separate development, President Lee Jae Myung addressed the issue of price collusion in commodities. Lee called for stricter penalties against companies conspiring to manipulate prices, particularly in essential goods such as sugar, flour, school uniforms, and housing. His remarks came during a meeting with senior aides, as the government intensified efforts to control housing prices.