Mongolia and South Korea Expand Cooperation Across Key Sectors
Mongolia and South Korea have agreed to deepen cooperation in several sectors following a meeting of their intergovernmental joint committee in Seoul
The two sides reviewed progress in their strategic partnership and discussed ways to turn agreements reached during the South Korean President’s state visit to Mongolia into concrete projects. One of the main priorities is to increase bilateral trade to one billion US dollars by 2030. Both countries also emphasized the importance of establishing a Comprehensive Economic Partnership Agreement to expand trade and create better conditions for businesses. Cooperation in major development projects will continue, including initiatives in rare minerals, infrastructure, housing, urban development and digital public administration. The two sides also agreed to maintain support for projects financed through South Korean grants and concessional loans. Healthcare was another important topic. Mongolia and South Korea discussed preparations for the construction of a second National Cancer Center, emphasizing the need for a clear cooperation plan that would support the facility until its medical management and operations become fully established. Environmental cooperation will also continue, including the next phase of the Green Wall project and joint efforts to address climate change and reduce greenhouse gas emissions. The two countries further agreed to expand educational and cultural exchanges, support Mongolian and Korean language training, and move forward with plans for a cultural center. Improving travel and residence conditions for citizens was also discussed. South Korea announced plans to introduce faster electronic group tourist visas for groups of five or more people, as well as medical visas. Both sides also discussed updating their existing social security agreement and working toward a new consular agreement.
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