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World

Lawmakers vow to impeach South Korea's president

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Opening sequence

World

Lawmakers vow to impeach South Korea's president

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COMING UP:Lawmakers vow to impeach South Korea's president

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Transcript

00:00:00
>>
SOUND] V
ws to impeach South Korea's President Wednesday, opposition parties promising to hold a vote on ousting Park Geun-hye possibly by the end of the week, after rejecting her offer to resign over a corruption scandal that's run her presidency into the ground. Park has handed Parliament the power to decide how and when she should step down.
00:00:21
A move for opponents are calling a ploy to avoid being impeached. Reuters' Tony Munroe says, the saga is taking the political system into uncharted territory.>> It could drag things out because parliamentors lead by an opposition coalition. And it's not entirely clear that it will be able to organize in a timely manner, an exit strategy or plan for the President.
00:00:47
There is a lot at stake because once she is out of office, an election needs to be held in 60 days. Now, that's not a lot of time. And in the ordinary course of events, an election is scheduled to happen one year from now. So timing is key for the various parties to line up and coalesce behind candidates to succeed President Park.
00:01:09
>> Park's accused of plotting with a close friend to squeeze millions of dollars out of Korean businesses. Legally, she can't be prosecuted as President, but with her days in the top job clearly numbered, she'll no doubt be sweating over what the future may hold.>> Prosecutors have identified her as an accomplice in this case.
00:01:27
So it is entirely possible that they would seek to indict her once she steps down from office, and there is President for that. There have been Korean Presidents who have gone to jail after they left office for events that happened while they were in office.>> Some of Park's political allies are pushing for a deal, that would let her step down the most dignified way possible.
00:01:53
But not all, other members of the ruling party now conceding that if a deal can be reached by Friday, impeachment is the only way.