"I will leave the issue of my departure, including the (possible) reduction of my term in office, to a decision by the National Assembly", she said in a speech carried live on television.

"Once lawmakers come up with measures to transfer power in a way that minimises any power vacuum and chaos in governance, I will step down", she said.

The statement is seen as a desparate bid for Park to avoid the humiliation of being impeached by the opposition-controlled assembly over a scandal involving her long-time confidante Choi Soon-Sil, who has been arrested for fraud and abuse of power.