South Korean finance minister quits in last-minute move ahead of impeachment

South Korea’s Finance Minister Choi Sang-mok abruptly resigned on May 1, just minutes before the National Assembly was set to vote on a motion to impeach him.

"I apologize to the people that I am unable to continue my duties amid grave internal and external economic conditions," Choi said in a statement released by the Ministry of Economy and Finance, Caliber.Az reports via foreign media.

His resignation was swiftly accepted by acting President and Prime Minister Han Duck-soo, who is widely expected to run in the upcoming presidential election in June.

Following the announcement, National Assembly Speaker Woo Won-shik suspended the impeachment proceedings, citing official notice of Choi’s departure from office. Prior to the vote, lawmakers from the opposition People Power Party (PPP) walked out in protest of the impeachment motion, which had been introduced by the ruling Democratic Party (DP). The country remains politically unsettled after months of leadership turmoil. Former President Yoon Suk Yeol declared martial law in December, leading to his removal from office on April 4. Choi had temporarily filled the role of interim president starting December 27 after the DP-led National Assembly impeached then-acting President Han. 

Choi was facing impeachment over allegations that he delayed appointing the ninth justice to the Constitutional Court while serving as interim president, among other charges brought by the DP. With Choi’s resignation now official, Deputy Prime Minister and Education Minister Lee Ju-ho is set to assume the role of acting president. Choi had been poised to return to interim leadership following Han’s resignation but chose to step down instead.

By Naila Huseynova