On the afternoon of Nov. 1, Deputy Prime Minister Choi Sang-mok, who also serves as the Minister of Economy and Finance, is greeting government officials after the supplementary budget for 2025 passes during a plenary session held at the National Assembly in Yeouido, Seoul. /Courtesy of News1

The resignation of Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok was officially accepted on the 1st.

The Spokesperson office of the Ministry of Economy and Finance reported on the same night through an emergency notice that “the resignation of Deputy Prime Minister Choi Sang-mok has been accepted.” Choi expressed his intention to resign at 10:28 p.m., just before the motion for impeachment against him was tabled at the National Assembly’s plenary session, and about 20 minutes later, Acting Prime Minister Han Duck-soo accepted the resignation. As a result, Choi will resign from his position as Economic Deputy Prime Minister as of midnight on the 2nd.

As Choi left the National Assembly plenary hall, he did not respond to reporters' questions about his stance on the impeachment push or his future plans, only saying, “Thank you for your hard work” and “Be careful, don’t get hurt” as he exited.

In a separate message sent to reporters, Choi noted, “I feel apologetic to the citizens for having to resign as I could no longer continue my duties in the face of severe domestic and international economic conditions.”

The impeachment motion against Choi was proposed by the Democratic Party of Korea on March 21 and was reported to the plenary session on April 2, after which it was referred to the Legislative and Judiciary Committee. The grounds for impeachment stated that Choi, who was Acting President, violated the authority of the National Assembly by not appointing candidate Ma Eun-hye for the Constitutional Court despite the Constitutional Court’s decision. Although the committee held relevant hearings on the 16th of last month, they concluded the schedule without adopting an investigative report.

On the day, Choi was attending the National Assembly’s plenary session to process the supplementary budget plan when he expressed his intention to resign just before the impeachment motion was tabled and left. With Choi’s resignation being formalized as Acting Prime Minister, it is expected that Deputy Prime Minister for Social Affairs and Minister of Education Lee Joo-ho will take over the position of Economic Deputy Prime Minister. Following the acceptance of Choi’s resignation, the duties of Minister of Economy and Finance will be assumed by First Vice Minister of Economy and Finance Kim Beom-suk.