If the court upholds the impeachment, Park will be permanently removed from office, and South Korea is required to hold a presidential election within 60 days. Local pundits predict the election will fall on May 9.

She would also become the first South Korean president to be ousted by impeachment.

If the court rejects her impeachment, Park will be immediately reinstated to serve out her term through February and the election will be held in December as scheduled.

There are eight justices currently deliberating on the president's impeachment after Chief Justice Park Han-chul retired in January upon completing his term. Park's ouster requires the approval of at least six of them.

The eight justices have held deliberations almost every day since the final hearing on Feb. 27 to gather their opinions and write draft rulings both for and against the impeachment.

It is unknown whether the justices have already reached their verdict, but they are expected to meet again later in the day to make final adjustments to the rulings.

Then, they may meet one last time Friday morning to cast their votes before Lee reads out the verdict, according to sources with knowledge of the proceedings.

The scandal has prompted millions of South Koreans to take to the streets to demand Park's ouster or reinstatement.

It also led to the indictment of 30 people suspected of involvement in the crimes, including Samsung's de facto leader Lee Jae-yong.

Park was named an accomplice to Choi in taking bribes from the nation's top conglomerate in exchange for business favors. She has not been indicted, though, as a sitting president is immune from criminal prosecution.

If she is unseated, she will lose that immunity and face prosecutorial questioning and possibly arrest. Skepticism remains, however, over whether such prospects are likely. (Yonhap)