SEOUL: South Korean authorities have imposed travel bans on two former acting presidents as part of an investigation into ex-leader Yoon Suk Yeol’s December martial law bid, Yonhap news agency said Tuesday.
“Police said on May 27 that former prime minister Han Duck-soo and former finance minister Choi Sang-mok have been banned from leaving the country as they are being investigated as suspects in an insurrection case,” Yonhap reported, adding the ban came into effect in mid-May.
Yoon was formally stripped of office last month after being impeached and suspended by lawmakers over his December 3 attempt to subvert civilian rule, which saw armed soldiers deployed to parliament.
He is currently on trial on insurrection charges over that declaration.
If found guilty, Yoon would become the third South Korean president to be found guilty of insurrection — after two military leaders in connection with a 1979 coup.
For charges of insurrection, Yoon could be sentenced to life in prison or the maximum penalty: the death sentence.
South Koreans go to the polls next week to elect Yoon’s successor, capping months of political turmoil since the martial law declaration.
Career bureaucrat Han had been touted as a possible candidate to replace him.
The ruling People Power Party (PPP) this month was forced to backtrack after trying to revoke former labor minister Kim Moon-soo’s candidacy in favor of Han.
Seoul slaps travel bans on two former acting presidents: Yonhap
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Seoul slaps travel bans on two former acting presidents: Yonhap
Trump calls for one year cap on credit card interest rates at 10 percent
- Trump says Americans have been ‘ripped off’ by credit card companies
- Lawmakers from both parties have raised concerns about rates
WASHINGTON: US President Donald Trump said on Friday he was calling for a one-year cap on credit card interest rates at 10 percent starting on January 20 but he did not provide details on how his plan will come to fruition or how he planned to make companies comply.
Trump also made the pledge during the campaign for the 2024 election that he won but analysts dismissed it at the time saying that such a step required congressional approval.
Lawmakers from both the Democratic and Republican Parties have raised concerns about high rates and have called for those to be addressed. Republicans currently hold a narrow majority in both the Senate and the House of Representatives.
There have been some legislative efforts in Congress to pursue such a proposal but they are yet to become law and in his post Trump did not offer explicit support to any specific bill.
Opposition lawmakers have criticized Trump, a Republican, for not having delivered on his campaign pledge.
“Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10 percent,” Trump wrote on Truth Social, without providing more details.
“Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies,” Trump added.
The White House did not immediately respond to a request for comment on details of the call from Trump, but said on social media without elaborating that the president was capping the rates.
Some major US banks and credit card issuers like American Express, Capital One Financial Corp, JPMorgan , Citigroup and Bank of America did not immediately respond to a request for comment.
US Senator Bernie Sanders, a fierce Trump critic, and Senator Josh Hawley, who belongs to Trump’s Republican Party, have previously introduced bipartisan legislation aimed at capping credit card interest rates at 10 percent for five years. This bill explicitly directs credit card companies to limit rates as part of broader consumer relief legislation.
Democratic US Representative Alexandria Ocasio-Cortez and Republican Congresswoman Anna Paulina Luna have also introduced a House of Representatives bill to cap credit card interest rates at 10 percent, reflecting cross-aisle interest in addressing high rates.
Billionaire fund manager Bill Ackman, who endorsed Trump in the last elections, said the US president’s call was a “mistake.”
“This is a mistake,” Ackman wrote on X.
“Without being able to charge rates adequate enough to cover losses and earn an adequate return on equity, credit card lenders will cancel cards for millions of consumers who will have to turn to loan sharks for credit at rates higher than and on terms inferior to what they previously paid.”
Last year, the Trump administration moved to scrap a credit card late fee rule from the era of former President Joe Biden.
The Trump administration had asked a federal court to throw out a regulation capping credit card late fees at $8, saying it agreed with business and banking groups that alleged the rule was illegal. A federal judge subsequently threw out the rule.
