Ulaanbaatar, November 12, 2024 /MONTSAME/. The 8th regular meeting of the Joint Committee between the Governments of Mongolia and the Republic of Korea took place in Seoul, the Republic of Korea, on November 11, 2024. 

At the outset of the meeting, the two sides highlighted that the relations between Mongolia and the Republic of Korea based on Strategic Partnership have deepened across all sectors, and political trust between the two countries has strengthened, with high-level visits and talks having increased.

The two sides emphasized that the Intergovernmental Joint Committee mechanism plays a crucial role in developing trade and economic cooperation between the two countries and agreed to establish a Mongolia-Republic of Korea Economic Partnership Agreement to enhance trade, and investment, and open up broader market opportunities for businesses and enterprises of the two countries, commending the successful progress of the talks in this regard.

Furthermore, the two sides exchanged views on elevating bilateral economic cooperation by attracting South Korean investment and introducing advanced technologies and know-how to major infrastructure projects outlined in Mongolia’s long-term policy “Vision-2050” and the Mongolian Government’s Action Plan for 2024-2028. The sides reviewed the realization of projects implemented in Mongolia by South Korean concessional loans and grants and commended the effective implementation of several projects,  including the “Rainbow 1” and “Rainbow 2” apartment complexes, the “Residential Complex on Bayangol Am,” as well as the Mongolia-South Korea Joint Research Center of rare earth metals.

Moreover, as part of its regional development policy, Mongolia will study the experience of South Korea in ensuring regional equality, improving urban planning and re-planning, and creating a people-friendly environment. Specifically, the two parties agreed to collaborate in formulating feasibility studies for the Ulaanbaatar-Kharkhorum railway project, with the support of South Korea in the planning and construction of New Kharkhorum City. 

During the meeting, the two sides noted the consultancy services of South Korean companies for the Ulaanbaatar Metro Project and expressed their commitment to further expanding cooperation in the infrastructure, mining, and energy sectors. Having collaborated in environmental protection, climate change mitigation, combating desertification, and healthcare, Mongolia and the Republic of Korea agreed to continue cooperation under the “One Billion Trees” and “A Healthy Mongolian” National Movements, and to further discuss collaboration through consultancy mechanisms between relevant ministries. 

Notably, in commemoration of the 35th anniversary of the establishment of diplomatic relations between Mongolia and the Republic of Korea in 2025, Mongolia plans to organize concerts in South Korea. The two sides reaffirmed their commitment to further supporting the cooperation between organizations and individuals in tourism, culture, and arts, highlighting the increased exchange of citizens between the two countries. In line with this, the two sides recognized the importance of facilitating the protection of the rights and interests of Mongolian and Korean nationals residing in each other’s country and improving visa conditions for Mongolian citizens traveling for medical and business purposes. Additionally, the two parties exchanged views on cooperation on international and regional fora, with the South Korean side reaffirming its support for Mongolia’s “Ulaanbaatar Dialogue” initiative.

As part of the 8th regular meeting of the Joint Committee of the Governments of Mongolia and the Republic of Korea, Uchral Nyam-Osor, Member of the Parliament of Mongolia, Minister of Mongolia, Chief Cabinet Secretariat, and Head of the Mongolian side of the Joint Committee, held a meeting with Minister of Foreign Affairs of the Republic of Korea Cho Tae-Yul, and the two sides discussed bilateral relations and cooperation. Moreover, Mr. Uchral Nyam-Osor met with Minister of the Interior and Safety of the Republic of Korea Lee Sang-Min and Minister of Personnel Management Yeon Won-Jeong and discussed cooperation in areas such as digitizing government services, improving address systems, civil service reform, and training government officials, as reported by the Ministry of Foreign Affairs of Mongolia.