1. Interior Minister Lee Sang-min pledged Wednesday to completely overhaul the country's disaster management system to better deal with disasters caused by climate change a day after he was reinstated as the interior minister as the Constitutional Court rejected the National Assembly's impeachment of him on Tuesday.

2. The International Monetary Fund cut its 2023 economic growth outlook for South Korea on Tuesday, to 1.4%, down 0.1 percentage point from its previous estimate of 1.5% in April.

3. Commercial Satellite imagery has shown that North Korea has been preparing for a parade and may conduct a military parade as early as midnight on Wednesday to mark the country’s Victory Day which is the 70th anniversary of the signing of the Korean War armistice.