Kim Jin-wook and Choi Joo, economists at Citigroup, said that heightened long-term political uncertainty over the impeachment of President Yoon Seok-yeol of South Korea could weaken overall economic confidence and discretionary spending. They said the Bank of Korea was more likely to cut interest rates in January if the legislature failed to pass the 2025 national budget in December, adding that political developments could prompt more capital outflows and pose upside risks to the dollar against the won.