South Korean President Mr Roh Moo-hyun proposed today holding a referendum on his rule and vowed to step down and trigger a fresh presidential election if the vote went against him.
Mr Roh told parliament he had lost confidence in his ability to carry out his duties because of political infighting and media hostility.
Following comments on Friday and Saturday in which he vowed to put his job on the line, Mr Roh said he favoured a date around December 15th for a referendum to seek a renewed mandate for his presidency amid a political funding scandal.
"I reached a situation in which I cannot conduct the presidency," he said in the televised speech, lamenting a weak political base and hostile media. "I have no confidence in doing my job under this situation."
South Korea's main stock index closed down a shade, but the referendum announcement had little impact.
Mr Roh, elected last December to a single five-year term, said that if he lost the referendum he would hold a presidential vote at the same time as an April parliamentary election.
Newspaper editorials were scathing in denouncing Mr Roh for destabilising his country, but opinion surveys suggested the president would win a referendum.