A senior official revealed to Yonhap News on April 7 that the official decision is expected to be announced by interim Prime Minister and President Han Duck-soo at a cabinet meeting on April 8.
"Due to the importance of the matter, and at the same time, it is necessary to determine that the election day is a special holiday, this decision will be approved at the cabinet meeting" - the official said.
According to current law, the presidential election of South Korea must be held within 60 days from the date the Constitutional Court dismisses the sitting president.
The case of former President Park Geun-hye in 2017 was also handled in a similar order. After Ms. Park was eliminated on March 10, the election was held exactly 60 days later, on May 9.
The National Election Commission of South Korea has begun the preliminary process of receiving nomination registration shortly after President Yoon Suk Yeol was removed from office on April 4 for illegally imposing martial law.
If the schedule is confirmed, candidates will have to register before May 11 and the official campaign will begin on May 12.
The law also requires a civil servant who wants to run for president to resign at least 30 days before the election. Therefore, the deadline for state civil servants to resign if they want to run for office is May 4.
The new president will take office immediately after the election results, without a power transition period.

Two days after being dismissed, Mr. Yoon Suk Yeol sent a message to his supporters: "As long as you - the young - keep the faith, the future of the country will be bright. Even if I am no longer president, I will always be with you.
In the message released by the legal team, Mr. Yoon thanked the people for their support and praised the act of "protecting freedom and sovereignty" as part of the "great history".
Earlier, on the day he was removed from office (September 4), Mr. Yoon said he was " regretful for not meeting the public's expectations" and considered serving the country "the greatest honor of his life".
However, he did not mention accepting the Constitutional Court's ruling, causing many to criticize him for not being truly remorseful.
Political analysts said that Mr. Yoon's message is intended to gather support from the far-right conservative faction, preparing for the behind-the-scenes activities affecting the upcoming election.
In fact, at a meeting with the leaders of the ruling People's Power Party on April 4, Mr. Yoon called on the party to "prepare carefully to win" this election.
Meanwhile, the Democratic Party (main opposition) condemned Mr. Yoon as "stimulating" far-right forces and disregarding the constitutional judgment: "That message is nothing other than acceptance denial and is a mockery of the Court's decision".
Mr. Yoon is still at the Presidential Palace in Seoul, while preparations to leave office are underway.
Yoon Suk Yeol is expected to leave Hannam-dong mansion this week and return to his private home in southern Seoul - where he lived before taking office in May 2022.