1. South Korea's ruling People Power Party is returning to an acting chair system led by floor leader, Kweon Seong-dong before the nation's Chuseok holiday that starts next Friday. Meanwhile, the new chairperson of the main opposition Democratic Party is the former presidential candidate, Lee Jae-myung.

2. The Korean won dropped to its lowest level against the U.S. dollar today in 13 years and 4 months, breaching the 1 thousand 350 won mark against the backdrop of the US central bank’s monetary tightening. The local currency ended its trading at 1,350.4 won against the U.S. dollar.

3. North Korea’s propaganda outlets reported that South Korea and the United States have initiated the second part of the Ulchi Freedom Shield(UFS) exercise on Monday, saying that the UFS is aimed at marching into Pyongyang.