South Korea's entire cabinet offered to resign today in the face of massive street protests, as its increasingly unpopular president warned that Asia's fourth-largest economy could be heading into crisis.
The protests against the government, in office barely three months, were sparked by public outcry over a deal to widen its market to US beef imports and have cast a darkening cloud over President Lee Myung-bak's plans for sweeping reform.
"The prime minister offered the cabinet's resignation at the regular meeting this morning (with Lee)," a spokeswoman at the prime minister's office said, in what local media said was in response to the mounting anti-government protests.
There has been speculation the conservative president will ditch his farm, health and education ministers, along with several aides, and possibly the foreign and finance ministers.
The April beef deal with the United States was meant to help a separate bilateral free trade accord that US congressional leaders threatened to block unless South Korea opened up its market to beef imports.
But widespread concern over mad-cow disease in US beef quickly turned the issue into a lightning rod for a broad range of grievances against Mr Lee's government, driven by its left-leaning opponents and labour unions.
Protest organisers say up to one million people will rally later today around the country - at least a third of them in the capital - against Mr Lee.