South Korea has abolished its central Prosecutors’ Office and transferred its responsibilities to a new public prosecution and indictment agency and a Serious Crimes Investigation Agency, effective October 2, 2026. Prosecutors can no longer conduct their own investigations, but they may review cases, request warrants and decide whether to pursue indictments. The reform advances a long-running Democratic Party effort to separate investigative and prosecutorial functions and reduce centralized power in the criminal justice system. Market pricing puts the likelihood of President Lee Jae-myung’s arrest before 2027 at 5.2% for a YES resolution. Observers are expected to focus on how the new agencies handle major investigations, the political implications for Lee Jae-myung, Constitutional Court decisions, public support, and possible legal or political challenges through the end of 2026. Vera offers live prediction-market analysis and invites users to sign up.