Embattled South Korean President Yoon Suk-yeol is facing bleak prospects after the parliament passed a bill on Tuesday mandating a permanent special counsel to probe treason charges over his failed bid to impose martial law.

The National Assembly approved the legislation 210-63 with 14 abstentions, Yonhap reported.

The opposition Democratic Party bloc holds 192 seats in the 300-strong parliament, while Yoon's ruling People Power Party has 108.The result indicated about 20 assenting votes from the PPP.

The bill's passage will mark the first time in South Korea's constitutional history that public prosecutors, police, the Corruption Investigation Office for High-ranking Officials, and a special prosecutor launch simultaneous investigations into the same case.

Besides Yoon, the bill calls for investigations into several other officials involved in imposing martial law, including former defense minister Kim Yong-hyun, former interior minister Lee Sang-min and army chief Park An-su, who was named martial law commander.

Yoon declared emergency martial law late on Dec 3 but it was reversed in the National Assembly in 155 minutes.

As the president cannot exercise his veto right on a bill about a permanent special counsel, the bill's passage is expected to have a prolonged influence on South Korea's political situation.

In addition, the National Assembly adopted a resolution calling for the swift arrest of eight key figures involved in the martial law incident, including Yoon.

The president and several top officials, including the Commissioner General of the Korean National Police Agency Cho Ji-ho, have been banned from leaving the country while under investigation.

Yoon avoided an opposition-led bid to impeach him on Saturday. However, the opposition parties have vowed to submit a new impeachment motion on Wednesday, with a vote set for Saturday.

Meanwhile, local media reported that the ruling PPP is discussing a road map that could see Yoon's "early exit" in February or March followed by fresh elections.

Democratic Party floor spokeswoman Kang Yu-jung dismissed the PPP plan, saying that the immediate impeachment of Yoon is the only answer.

"Who gives the PPP the power to settle the political situation?" Kang said.

"The PPP, which refused to vote for the impeachment of Yoon, is the one that caused political turmoil.

"What the people want is immediate suspension of Yoon's duty either by resignation or impeachment."

Apologizing to the public, Culture Minister Yu In-chon called for restraint in the opposition party's continued submission of impeachment motions against high-ranking officials, as it could pose a great danger to the public if all ministers responsible for security become vacant.

"I sincerely urge the majority party to demonstrate wisdom and restraint, ensuring that legal and political procedures proceed in alignment with the rule of law so that the government can focus on stable governance," said Yu.

Stability urged

Fang Kun, charge d'affaires ad interim of the Chinese embassy in South Korea, said China hopes to see continued stability in South Korea's economy and society as the two countries are important partners and close neighbors.

In a meeting with South Korean Deputy Finance Minister Choi Ji-young in Seoul on Tuesday, Fang also emphasized the need to continue bilateral cooperation through exchanges in various fields, such as the economy and tourism.

Choi said the government will proactively address financial and foreign exchange market volatility and prevent foreign companies from shirking investment and economic activities.

Uncertainties surrounding South Korea's economy have increased following Yoon's martial law declaration, with analysts worrying that the prolonged political crisis may even affect the country's credit rating.