South Korean president’s concession could spell end of power

The widening scope of a formal investigation into Choi Soon-Sil saw prosecutors raid the offices of Samsung Electronics in Seoul earlier Tuesday.

Choi is alleged to have used her closeness to Park in order to gain significant influence over the South Korean government, despite not having any official governmental role.

Samsung Electronics HQ was raided by prosecutors amid allegations that the group was providing illicit favors to Chung Yoo-ra, daughter of Choi Soon-sil.

Samsung has confirmed its offices have been raided, but gave no further explanations.

Ms Choi was arrested on 3 November and charged with fraud and abuse of power. Tens of thousands of protesters in Seoul have been demanding Park’s resignation, while the president’s approval ratings plummeted to record lows.

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Park is responding to concerns from everyday South Koreans and lawmakers, many of whom are calling on her to resign completely.

Amid the investigation into corruption-ridden presidential aides and the prolonged political deadlock, restoring state affairs has become a top priority for both the presidential office and the opposition.

The first South Korean female leader fired eight presidential secretaries and named three cabinet members, including a new prime minister, but opposition parties had boycotted the “unilateral” nomination of the country’s No.2 executive position.

Park congratulated Trump on his election based on his “outstanding” achievements in various fields and public support for his leadership. She already faces bad approval ratings and calls from the public to step down.

At a rare visit to parliament on Tuesday, President Park had indicated to Assembly Speaker Chung Sye-kyun that she would hand control of the Cabinet to a prime minister recommended by the opposition bloc.

It was not clear whether the proposal to transfer more power to the premier, who is normally a figurehead, would include the job of representing the country diplomatically.

She is scheduled to appear before the parliament Tuesday, to attend a meeting wherein she is expected to discuss possible options to resolve her ongoing political crisis with the speaker of the South Korean parliament.

Even so, it is still viewed as unclear what the splintered assembly will decide on, or when – or what Ms. Park will agree to.

The South Korean government and the ruling Saenuri Party on Wednesday agreed to organize a special team to cope with the impact of the USA presidential race on the local economy and its foreign policy, with tycoon-turned politician Donald Trump grabbing the victory.