The Seoul market's benchmark KOSPI index rose after the ruling.
"We believe that there are greater benefits by expelling the respondent from the office".
Civic activists, political parties and common citizens are expressing disappointment and even outrage at former President Park Geun-hye's total lack of contrition as she left the Blue House and returned to her residence in Samseong-dong, southern Seoul, Sunday.
All eight of the Constitutional Court justices endorsed the National Assembly motion, passed in December with more than the two-thirds majority support needed, to remove Park from office on charges of corruption, misconduct and negligence.
Now, the 65-year-old leaves them in disgrace after a corruption scandal that made her the country's first head of state to be removed by impeachment. Artist An Hyun-jung, 30, who has been staging performances criticizing Park on Gwanghwamun Square said there was still much to do.
The allegations leveled towards Park include bribery, failure to protect citizens during the 2014 Sewol ferry disaster and violation of sovereignty for leaking confidential information to Choi.
The Constitutional Court also clarified that its ruling was focused on the legitimacy of the National Assembly action to oust the president, and not on criminal guilt or innocence.
Park's lawyer, Seo Seok-gu, who had previously compared Park's impeachment to the crucifixion of Jesus Christ, called the verdict a "tragic decision" made under popular pressure and questioned the fairness of what he called a "kangaroo court".
With Park's ruling conservatives looking out of favor, it seems likely the country will turn to the left-wing opposition, which has signaled it would be likely to pursue a policy of engagement with North Korea, as opposed to the more hard line position offered by Park and her conservative allies.
Moon called on Park to publicly accept the court ruling.
"The world will record the great fight and victory of our people as new history of democracy", Choo said. Park had immunity from prosecution while she was in office, but has lost that now that she has been removed from the presidency.
The outgoing president, whose father was assassinated while he was South Korea's ruler in the 1980s, was allegedly involved in extorting money from various corporations, including Samsung, with the assistance of Choi, who is now under arrest. There is a concern that they now unduly favor acting President and Prime Minister Hwang Kyo-ahn.
The South Korean military has been watching North Korea closely since the impeachment vote to guard against North Korean interference in the South's politics. Supporters calling themselves "Parksamo", or "people who love Park", held a rally at the other end of the main drag - separated by a large police wall built to keep the factions apart.
"President Park Geun-hye has just now departed the Blue House and headed for her private home", a Blue House official said by text message. She must now move out as soon as possible.
Yonhap news agency said nine senior presidential advisers tendered their resignations to acting leader Hwang Kyo-ahn today.
Cover image: "Former president Park shakes hands with pro-Park lawmakers who came to greet her".
Prosecutors have arrested and indicted a slew of high-profile figures over the scandal, including Park's confidante Choi Soon-sil, top Park administration officials and Samsung heir Lee Jae-yong.