A narrow majority of the members of the National Assembly in Seoul voted to remove the president, with a motion accusing him of having effectively carried out a coup or rebellion in practice.
Today's decision is a great victory for the people, says the Democratic Party's group leader Park Chan-Dae after the vote.
In contrast to the vote that was supposed to take place a week ago, Yoon's own party members showed up this time, which meant that a decision could be made.
The Speaker announced that 204 members voted in favor and 85 against.
Court to Decide
In a final step, it is up to South Korea's Constitutional Court to decide whether the decision will be upheld and Yoon removed, or if it will be invalidated. The court has 180 days to make a decision, and all six sitting judges must be unanimous in their decision.
In addition to the parliamentary impeachment process, the president is also still subject to a prosecutor-led criminal investigation.
The vote took place while more than 200,000 residents demonstrated outside the parliament building for the president to be removed.
If he is not removed today, I will come back next week, said 24-year-old demonstrant Yoo Hee-Jin to AFP news agency before the result was known.
Large protests have also taken place in other parts of Seoul, in support of the president.
He had no other choice but to declare a state of emergency. I support every decision he has made as president, said 62-year-old Choi Hee-Sun.
Shocked the Country
The president quickly backtracked on his decision to declare a state of emergency on December 3 – it was withdrawn after just six hours.
The decision, however, shocked the country and the world, and reminded of the country's dark history with states of emergency and military rule half a century ago. Yoon motivated his drastic decision by saying that the opposition was paralyzing decision-making.
The Defense Minister, who supported the president in his decision, has already been forced to resign.