North Korean economy expected to slow down amid pandemic

North Korea's economy is projected to shrink for the second year in a row due to sanctions and the Kovid epidemic, according to South Korea's central bank. The Bank of Korea (BOK) said in a report that North Korea's economy, which has been hit by stringent UN sanctions on its nuclear and missile programmes, has been affected. This is a decrease of 0.1 percent compared to the previous year. 

United States President Joe Biden will meet with the head of South Korea's number two conglomerate SK Group to discuss the company's investments in American manufacturing and jobs, the White House has said. Biden and SK Group Chairman Che Tae-won will hold talks Tuesday at 2 p.m. EDT (18:00 GMT), which will also be attended by U.S. Commerce Secretary Gina Raimondo, the White House said in a statement.