Stock Track | Korea Electric Power Plunges 5.13% in Pre-Market on Short-Lived South Korea Turmoil

Stock Track12-04

Korea Electric Power Corporation (KEP) shares plummeted 5.13% in the pre-market trading session on Wednesday. The sharp decline in the South Korean utility company's stock price was driven by geopolitical tensions and temporary turmoil in South Korea.

On Tuesday, South Korean President Yoon Suk Yeol unexpectedly declared martial law in the country, citing threats from North Korea and the need to "eradicate despicable pro-North Korean antistate forces." The declaration, which granted sweeping authority to the military over public life, sparked concerns among investors and led to a flight from South Korean assets like KEP.

However, the situation was short-lived as the National Assembly swiftly voted to end the martial law just three hours after the president's announcement, effectively forcing him to comply with the decision. While the turmoil was temporary, it was enough to rattle global markets and send stocks like KEP tumbling.

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