Korea ETFs dropped sharply in overnight trading. Direxion Daily South Korea Bull 3X shares shares fell 7%; KB Financial fell 5%; Posco fell over 4%; KT Corp fell 3.7%; iShares MSCI South Korea ETF fell 1.7%.

South Korean President Yoon Suk Yeol managed to avoid impeachment over the weekend by just a handful of votes. But pressure for him to step down is only intensifying.

With mounting public anger in Seoul and Yoon’s approval rating nearing single digits, his allies huddled on Sunday to find a way for him to quietly step aside. They want the president to go away without needing to vote for his impeachment, a move that could upset supporters and hurt the party in a subsequent election.

That search for a creative solution prompted Han Dong-hoon, the leader of Yoon’s People Power Party, to declare on Sunday that Prime Minister Han Duck-soo would manage the nation’s affairs from now on, including its security alliance with the US.

“The president will not be involved in any state affairs including diplomacy before his exit,” Han Dong-hoon told reporters on Sunday.

The opposition immediately rejected the move, with Democratic Party leader Lee Jae-myung accusing Yoon’s party of “destroying the order of the constitution.”

“Isn’t this another coup?” Lee said after the announcement, adding that his party would again push for the president to step down. “I urge Yoon Suk Yeol to immediately step down or to be impeached.”