Ulaanbaatar, April 19, 2024 /MONTSAME/. The Ministry of Education and Science of Mongolia, Monos Group of Mongolia, University of Pharmaceutical Sciences of Mongolia, South Gyeongsang Province, Yeondeok Province, and Daegu Haany University of South Korea signed a six-partite Memorandum of Cooperation. The Signing Ceremony was held at the Ministry of Education and Science of Mongolia on April 18, 2024.

Under the Memorandum, the International Cooperation Project on Traditional Medicine "Silk Road" will be implemented. This project holds significant importance for inter-country development, cultural exchange, education, scientific dissemination, support for research and innovation, and promotion of the further development of traditional medicine of the two countries internationally.

Governor of North Gyeongsang Province of South Korea Lee Cheol-woo said, "Mongolia and South Korea had an active exchange of culture and methods through the Silk Road in the 5th-6th centuries. Based on this, six organizations from Mongolia and South Korea will implement a "Silk Road" Traditional Medicine Project. We will cooperate with Mongolia to spread the world's best traditional medicine education, train healthcare professionals, and conduct joint researches. This multilateral Memorandum of Cooperation will create opportunities for friendly cooperation and lead to mutual development of the two countries."

The "Silk Road" Traditional Medicine Project aims at establishing an International Research Center based on the Monos Group and the University of Pharmaceutical Sciences of Mongolia, empowering teachers and researchers by implementing training programs and conducting joint research projects, introducing modern farm technology for the cultivation of medicinal plants, and cooperating in producing and marketing innovative products based on recipes recorded in traditional medical sources.

D. Battogtokh, Head of the Innovation Development and Implementation Coordination Department of the Ministry of Education and Science of Mongolia, emphasized, "South Korea has achieved a high level in pharmaceutical technology and product development. Mongolia's traditional medicine sector possesses unique characteristics and has the potential to produce innovative products at a global standard. Hence, there is an opportunity to create innovative products by integrating traditional Mongolian techniques with advanced global technology. One of the key priorities for advancing science, technology, and innovation is traditional medicine. Through the Memorandum, Monos Group, a leading entity in Mongolia's pharmaceutical industry, will collaborate with scientific institutions and universities in the northern region of South Korea. It marks the initiation of cooperation with South Korea to produce traditional technologies and products for the East Asian market."

Byun Chang-Hoon, President of Daegu Haany University, stated, "Our university has maintained a fruitful partnership with Monos Group for over a decade. Through the Memorandum, we plan to establish an international research center in collaboration with Monos Group, focusing on advanced research and analysis in medicinal plant cultivation. Additionally, an International Cooperation Council will be established to facilitate discussions on various aspects, including the development of traditional medicine, student and faculty exchange programs, research, and training initiatives."

The "Silk Road" Traditional Medicine Project is scheduled for implementation over five years.