South Korean president offers to resign amid corruption crisis

South Korean president Park Geun-hye has offered to step down before her term officially ends and called on the country's lawmakers to arrange for her exit.

Park was essentially forced to deliver a televised address on Tuesday after widespread protests and accusations of cronyism over her friendship with Choi Soon-sil.

Choi, who has no official position but is sometimes described as the president's 'spiritual advisor', has been accused of extortion of funds from South Korean companies and receiving donations for a non-profit fund, backed by Park.

"I will leave to parliament everything about my future including shortening of my term," Park said.

"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.

Huge protests took place in Seoul and other cities over the weekend demanding the resignation of Park. Opponents to the president have said that Tuesday's offer is still not enough, believing it to be a way of escaping impeachment.

"She is asking the parliament to pick a date for her to resign, which she knows would lead to a discussion on when to hold the presidential election and delay everything," said Park Kwang-on from the Democratic Party.

South Korean politics has been rocked by the scandal, with two colleagues of the president having been charged, alongside a prominent 'K pop' music producer.