South Korea’s political landscape took an unprecedented turn on Tuesday as President Yoon Suk Yeol declared martial law. The South Korean Won (KRW) briefly weakened against the dollar, while Bitcoin (BTC) and Ripple (XRP) values plummeted on Upbit.

President Yoon Suk Yeol of South Korea declared martial law late Tuesday, before withdrawing troops hours later.

South Korea's president declared martial law, accusing the country's opposition of paralyzing the government. Then he backed down.

Dreyfuss and Amanda Cooper NEW YORK/LONDON (Reuters) - The Korean won was one of the biggest movers on Tuesday, plunging against the U.S. dollar after South Korea's president declared martial law in an unannounced late-night address on television.

President Yoon reportedly said that he will lift martial law, hours after the country's parliament voted to veto the plan. Follow Newsweek's live blog.

South Korean President Yoon Suk Yeol declared an “emergency martial law,” Tuesday accusing the country’s opposition of controlling the parliament, sympathizing with North Korea and paralyzing the government with anti-state activities.

South Korean President Yoon Suk Yeol faced demands to resign on Wednesday after his short-lived attempt to impose martial law was voted down by lawmakers and brought thousands of protesters