Opposition parties have said they believe they will get the two-thirds majority needed to pass the bill.
Parliament is expected to vote on Friday in favour of impeachment, although the Constitutional Court must decide whether to uphold the motion, a process that could take up to 180 days.
Opposition parties have said they believe they will get the two-thirds majority needed to pass the bill, with support from about 30 members of Park’s conservative Saenuri Party to secure the necessary 200 votes.
Park, 64, said this week she would await the court’s ruling, signalling that the country’s six-weeks-long political crisis is set to continue.
Park, the daughter of a former military ruler, is under intense pressure to resign immediately, with big crowds taking to the streets of Seoul, every Saturday calling for her ouster.
Her approval rating is at a record low of 4 per cent. A Realmeter poll released on Thursday said 78.2 per cent of respondents wanted Park to be impeached.
She would be the first democratically elected South Korean president not to serve a full five-year term.
Former President Roh Moo-hyun was impeached by parliament in 2004, a motion that was overturned by the Constitutional Court which said grounds for impeachment were insufficient.
Park is accused of colluding with a friend and a former aide to pressure big businesses to donate to two foundations set up to back her policy initiatives.
She has denied wrongdoing but apologised for carelessness in her ties with the friend, Choi Soon-sil.
An impeachment vote must be held within 72 hours of the motion’s introduction, and the speaker of parliament, Chung Sye-kyun, asked for a vote on Friday.