The embattled South Korean president says she'll resign if parliament comes up with a plan for the safe transfer of power.

South Korean President Park Geun-hye's stunning announcement Tuesday comes after massive protests that have called for her ouster amid a mounting scandal.

Opposition parties have been closing in on an impeachment motion against her and even her allies in the conservative ruling party have called for her to "honorably" step down rather than face impeachment.

Park had previously been rejecting calls to leave office and dismissed prosecutors' claim that she colluded with a confidante who allegedly manipulated power from the shadows and extorted companies to amass an illicit fortune.