President Lee Jae-myung said on the 9th that "Korea and Mongolia will join forces to achieve $1 billion in Korea-Mongolia trade by 2030, using the agreement in principle on the Comprehensive Economic Partnership Agreement (CEPA) as a stepping stone."
Lee made the remarks in a joint press announcement after completing a summit with Mongolian President Ukhnaa Khurelsukh at the government building in Ulaanbaatar the same day. "This joint declaration will serve as an important milestone in transforming the years ahead into a 'golden age of Korea-Mongolia relations,' built upon the friendship and trust the two countries have accumulated over some 30 years," Lee said, adding that the two sides "agreed to further solidify political and diplomatic trust and deepen their strategic partnership."
He continued, "We have agreed to expand future-oriented, substantive cooperation that both peoples can tangibly feel," and said, "We will expand economic, trade and investment cooperation and strengthen collaboration in supply chains and critical minerals." He also explained, "We plan to broaden the scope of mutually beneficial and sustainable cooperation in various fields, including AI and digital transformation, advanced science and technology, logistics and infrastructure, agriculture and livestock, health and medicine, and development cooperation."
