The move set off the country’s most serious political crisis since its democratisation in the late 1980s.
The president is expected to argue that there is no need for him to be in custody during an investigation at the hearing.
A decision is expected to be made by the judge by late Saturday or early Sunday.
If he is arrested, investigators can extend his detention to 20 days, during which they will transfer the case to public prosecutors for indictment.
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If the court rejects the investigators’ request, Yoon will be released and return to his residence.
The crisis began when, in an attempt to break through legislative gridlock, he imposed military rule and sent troops to the National Assembly and election offices.
The standoff lasted only hours after lawmakers who managed to get through a blockade voted to lift the measure.