Park, who is currently recuperating from a stomach ailment following a 12-day South American tour, also promised a sweeping review of "deep-rooted corruption" in Asia's fourth-largest economy.
"I express my regret for causing concerns among South Koreans," Park said in a statement read in a live television broadcast by her chief spokesman Kim Sung-Woo.
"The truths behind the latest scandal should be revealed through a thorough investigation ... We need a new political reform to root out prevalent, deep-rooted corruption in our country," she said.
Lee's hand was forced by a scandal triggered by the suicide earlier this month of Sung Wan-Jong, the former head of a bankrupt construction company.
In the dead man's pocket, investigators found a note that listed the names of eight people -- including Lee and former and current presidential chiefs of staff -- alongside numbers that allegedly indicate bribery sums.
The suicide came as Sung was about to be questioned by prosecutors over allegations that he created a slush fund with embezzled company money to bribe politicians and government officials.
Bribery scandals involving politicians and rich businessmen have been a fixture of South Korean politics for decades.
Two former presidents served prison terms for taking bribes and dozens of heads of major business groups have been convicted of forming slush funds to lobby politicians.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
