Korea Trade-Investment Promotion Agency to support Mongolia’s free economic zone development

2022-05-06 14:29:59

Ulaanbaatar /MONTSAME/. Speaker of the State Great Khural G.Zandanshatar received Member of the National Assembly of the Republic of Korea Kim Young-joo on May 5.

Director of the Parliamentary Research Institute at the Secretariat of the State Great Khural Ts.Tsogzolmaa, Head of the Representative’s Office of the Korea Trade-Investment Promotion Agency (KOTRA) Min Seong-muo, and representative of business owners in the construction, infrastructure, and public transportation sectors of South Korea were present at the meeting.

Member of the National Assembly Kim Young-joo, who previously served as the Minister of Employment and Labor of the ROK, puts special emphasis on expanding regional foreign relations and cooperation in a wide range of areas, encouraging woman’s participation and leadership in society.

Within the framework of her visit, the South Korean parliament member put forward numerous initiatives to support and cooperate with women, including the members of the Social Democracy Mongolian Women's Association, and expressed commitment to organizing joint training on the target topic. 

The KOTRA representative also suggested strengthening multilateral economic cooperation and effectively implementing projects and programs to increase trade turnover and investment. Specifically, they expressed their support for the development of free economic zone by helping connect companies and entities that are interested in investing in Mongolia.

Expressing gratitude for supporting the development of relations between the two countries, and contributing to women’s empowerment in the country, Speaker G.Zandanshatar affirmed support for further strengthening the cooperation.

During the meeting, a representative of RHP Co. Ltd. gave information on construction projects that were implemented in the Korean public transportation sector, and their latest technology and solutions. Discussions were also held on the advantages and features of LRT (light rail transit) – one of the key solutions that are being considered to reduce traffic congestion in the capital city. 

The sides agreed to further expand bilateral inter-parliamentary cooperation, and provide mutual support in increasing foreign trade and investment.