South Korean finance minister Choi resigns: ministry

Seoul: South Korea s finance minister Choi Sang mok handed in his resignation on Thursday and it was accepted, his ministry said in a statement, as th...

Seoul: South Korea's finance minister Choi Sang-mok handed in his resignation on Thursday and it was accepted, his ministry said in a statement, as the country's parliament was voting on his impeachment.

"Choi's resignation has been accepted," said the finance ministry in a statement.

Choi was set to assume the acting presidency at midnight on Thursday with acting president Han Duck-soo scheduled to formally resign, in what many saw as a move to launch a presidential bid before a snap election next month.

"I apologise that I am stepping down from my post, as it has become difficult to continue fulfilling my duties amid the grave economic circumstances both at home and abroad," Choi said in a statement released by the finance ministry.

His resignation came as opposition MPs introduced an impeachment motion against Choi after the country's Supreme Court overturned a ruling that found their presidential candidate and frontrunner Lee Jae-myung not guilty of violating election law.