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Economy / South Korea

Uri Party in Disarray

February 2007 | Risk Summary

A group of 23 South Korean lawmakers deserted the ruling Uri party on February 6, leaving it as only the second-largest party in parliament, and subsequently undermining its ability to push forward economic and constitutional reforms. President Roh Moo-hyun is already effectively a lame duck for the final year of his term. We have long held the view that increasingly unpopular Uri is unlikely to retain the presidency in December's election, with the main opposition Grand National Party's two candidates, Lee Myung-bak and Park Geun-hye, consistently topping opinion

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