President Lee Jae Myung held a summit with Mongolian President Ukhnaa Khurelsukh during his state visit to Ulaanbaatar. The two nations agreed to expand cooperation in critical minerals and advanced technology.
President Lee Jae Myung held a summit with his Mongolian counterpart Ukhnaa Khurelsukh in Ulaanbaatar on Thursday and declared the start of a golden age in bilateral relations. The two countries reached an agreement in principle on a Comprehensive Economic Partnership Agreement, setting a target of US$1 billion in annual trade by 2030.
They agreed to expand cooperation on critical mineral supply chains, artificial intelligence and renewable energy. A total of 21 memorandums of understanding were signed after the summit, including one for a US$230 million project to build Mongolia's second national cancer center.
Deputy Prime Minister and Finance Minister Koo Yun-cheol met his Mongolian counterpart Jadamba Enkhbayar and discussed projects in supply chains and AI. The two sides also agreed to establish a hotline between the deputy prime ministers.
