Hundreds of thousands of people have gathered in Seoul each Saturday for the last five weeks to demand that Park step down amid prosecutors' claims that she colluded with a confidante who allegedly manipulated power from the shadows and extorted companies to amass an illicit fortune.
Park would be the first South Korean leader to resign since the country's first president, Syngman Rhee, quit and then fled to Hawaii amid a popular uprising in 1960.
"I will leave the matters about my fate, including the shortening of my presidential term, to be decided by the National Assembly," Park said today in a live address to the nation, referring to parliament.
"If the ruling and opposition parties discuss and come up with a plan to reduce the confusion in state affairs and ensure a safe transfer of governments, I will resign from the presidential position under that schedule and by processes stated in law."
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An impeachment motion vote had been planned for Friday. The country's two largest opposition parties were also planning on Tuesday to nominate a special prosecutor to independently investigate the scandal.
At the heart of the scandal is Choi Soon-sil, Park's longtime friend and the daughter of a late cult leader who allegedly meddled in state affairs and pressured companies to donate millions of dollars to foundations controlled by her at the request of Park.
Park, who has immunity from prosecution while in office, has refused to meet with prosecutors. Her lawyer, Yoo Yeong-ha, has described prosecutors' accusations against Park as groundless.
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