People Power Party (PPP), South Korea ruling party is in talks over President Yoon Suk Yeol potential resignation as early as February, following his controversial declaration of martial law that triggered a nation-wide crisis. The ruling party is also discussing holding a snap election in April or May, according to PPP sources.

Yoon, who has apologized for the martial law attempt and pledged to leave his fate in the hands of the PPP, has not stepped down. He is now under criminal investigation on charges of insurrection and abuse of power, with a second impeachment vote scheduled for Saturday. Yoon’s departure would require a national election within 60 days under South Korea’s constitution, and the PPP has proposed that this could occur in April or May.

PPP task force leader Lee Yang-soo confirmed that discussions are ongoing, but no final decision has been reached. Lee said the resignation could happen by February or March, followed by an election two months later. However, opposition parties have criticized this plan as unconstitutional, with the Democratic Party (DP) calling for immediate impeachment and legal action against Yoon.

DP leader Lee Jae-myung expressed doubts over public support for keeping Yoon in office amidst criminal charges. The DP also plans to reintroduce an impeachment bill after last week’s motion failed due to a PPP boycott. The PPP, meanwhile, is grappling with growing dissent within its ranks, as more lawmakers voice support for impeachment. Kim Sang-wook became the third PPP lawmaker to openly back the motion, and others are expected to follow suit.

Investigations and Bipartisan Action

Meanwhile, a special counsel has been appointed to investigate the martial law crisis. Yoon and several former government officials, including ex-defence and interior ministers, face charges. The case has sparked deepening divisions among South Korean political and security agencies, with investigations intensifying into the roles of key figures involved in the decision-making process.