After the vote, parliamentary officials hand-delivered formal documents to the presidential Blue House that stripped Park of her power and allowed her No 2, Prime Minister Hwang Kyo-ahn, to assume leadership until the country's Constitutional Court rules on whether Park must permanently step down. The court has up to six months to decide.
"I'd like to say that I'm deeply sorry to the people because the nation has to experience this turmoil because of my negligence and lack of virtue at a time when our security and economy both face difficulties," Park said at a Cabinet meeting after the vote.
They are furious over what prosecutors say was collusion by Park with a longtime friend to extort money from companies and to give that confidante extraordinary sway over government decisions.
Organisers said about 10,000 people gathered in front of the National Assembly to demand that lawmakers pass the impeachment motion.
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Some had spent the night on the streets after traveling from other cities. Scuffles broke out between angry anti-Park farmers, some of whom had driven tractors to the assembly from their farms, and police.
"Can you hear the roar of the people in front of the National Assembly? We need to overcome the old establishment and create a new Republic of Korea by passing (the impeachment motion)," Kim Kwan-young, an opposition lawmaker said ahead of the vote, referring to South Korea's formal name. "Our great people have already opened the way. Let's make it so we can stand honorably in front of history and our descendants."
The handover of power prompted the prime minister to order South Korea's defense minister to put the military on a state of heightened readiness to brace for any potential provocation by North Korea. No suspicious movements by the North were reported, however.