Finance Minister Choi Sang-mok resigned Thursday night, just minutes before the National Assembly was set to vote on a motion to impeach him.  

Choi submitted his resignation at 10:28 p.m. Thursday, four minutes before National Assembly Speaker Woo Won-shik introduced the impeachment motion in a plenary session. 

Woo halted the proceedings and immediately shelved the impeachment motion upon learning of Choi’s resignation. 

Outgoing acting President Han Duck-soo accepted Choi’s resignation about 20 minutes later. 

In a statement released later, Choi apologized to the people but said he can no longer continue in his duties amid the grave economic conditions at home and abroad. 

Choi would have taken over as acting president at 12 a.m. Friday after the resignation of Han, who is expected to run in the presidential election in June.

Since both Han and Choi stepped down, Education Minister and Deputy Prime Minister Lee Ju-ho assumed the role of acting president as of 12 a.m. Friday.