South Korean President Park Geun-hye offered herself to state and independent investigations into the allegations of power abuses by her longtime friend Choi Soon-sil, a move that would make her the first president in Korean history to face criminal investigation while in office.

In a lengthier nine-minute public statement than the short apology she issued 10 days ago after admitting that she consulted with her friend on state affairs, she said the blame should entirely fall on her. “I deeply feel my responsibility. Anyone found guilty through prosecution probe must face the due accountability. I too won’t hide away from my liability,” she said.

“I will faithfully submit myself to the prosecution probe and will also accept independent counsel investigation,” she said.

Park volunteered herself to prosecution investigation although the Constitution grants the president immunity from criminal prosecution amid escalating public outcries upon learning the extent of the influence Choi had over government affairs as well as the private sector. Ruling and government officials began to turn away after her former senior secretary for policy coordination An Chong-bum testified to the prosecution that the fundraising activities of the foundations Choi Soon-sil created had been regularly reported to the president. The two organizations have been known to have squeezed out handsome donations from large companies, of which Choi is suspected of embezzled for personal use.

The president this week has made several attempts for a breakthrough in the unprecedented predicament, recruiting former loyalists from the previous liberal governments as the new prime minister and chief of staff and sacking all her controversial aides.

Local markets that entirely lost investment appetite amid political impasse from the scandal responded coolly to the news about the president further disgracing herself to become the first to face a criminal investigation. At 1:20 p.m. Friday, the Korean composite stock price index was 3.78 points lower at 1,980.20. The won further slipped with the U.S. dollar at 1,143.0 won, down 0.5 won.

By Nam Gi-hyun

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]