DP elects Kim Byung-kee as new floor leader, PPP to elect on Monday

Also on the political front.

Korea's two major political parties are undergoing leadership transitions.

The Democratic Party on this Friday afternoon elected third-term lawmaker Kim Byung-kee as its floor leader a position that carries the responsibility of advancing key legislation in support of President Lee Jae-myung's reform agenda and overseeing confirmation hearings for new cabinet nominees.

Meanwhile the People Power Party will open candidate registration for its floor leadership race on Saturday before electing a leader on Monday.