South Korea and Mongolia sign $7 million business deals and heritage cooperation

At a Korean‑Mongolian Business Forum in Ulaanbaatar, 130 bilateral consultations led to roughly $7 million in on‑site contracts and memoranda of understanding. South Korean President Lee Jae‑myung and Mongolian President Ukhnaa Khürelsükh attended, along with CEOs from LS, POSCO, SK, LG CNS, GS Retail, EMart, KakaoBank, BGF Retail and MegaZone Cloud. The agreements covered core minerals, consumer goods distribution and digital‑finance cooperation.

In a separate cultural‑heritage initiative, South Korea’s Cultural Heritage Administration signed memoranda with Mongolia’s National Chinggis Khaan Museum and the Mongolian Academy of Sciences. The pact expands cooperation to underwater cultural heritage, with joint training planned for 2027 and a collaborative investigation of a lake site slated for 2028, building on earlier archaeology collaborations.