Prime Minister U. Khurelsukh’s official visit to South Korea began on January 15. He is being accompanied by seven of his cabinet’s ministers, including the Finance Minister, Foreign Minister, and Education Minister.
The visit, which is being paid at the invitation of Prime Minister Lee Nak-yeon, will conclude on January 17. The official visit is focused on strengthening Mongolia's comprehensive strategic partnership with South Korea, as well as expanding trade, investment, grants, and soft loans. Prime Minister U. Khurelsukh will sign a handful of agreements, including one for a 700 million USD soft loan which will be granted as part of the International Monetary Fund’s extended fund facility program.
U. Khurelsukh stated that 500 million USD of the loan will be spent on reducing air pollution. The loan has a 30-year term and 0.2 percent annual interest. On the first day of his visit, the premier met with South Korean President Moon Jae-in and expressed his interest in cooperating with South Korean on solar energy and wind power. A meeting with Mongolians who live and study in South Korea was held on January 15. Currently, there are 46,000 Mongolians residing in South Korea, 33.7 percent more than residents recorded in January 2017. The two nations' prime ministers are expected to continue discussions this week, and will attend a South Korea-Mongolia business forum on January 16.
Prime Minister U. Khurelsukh’s official visit to South Korea began on January 15. He is being accompanied by seven of his cabinet’s ministers, including the Finance Minister, Foreign Minister, and Education Minister.
The visit, which is being paid at the invitation of Prime Minister Lee Nak-yeon, will conclude on January 17. The official visit is focused on strengthening Mongolia's comprehensive strategic partnership with South Korea, as well as expanding trade, investment, grants, and soft loans. Prime Minister U. Khurelsukh will sign a handful of agreements, including one for a 700 million USD soft loan which will be granted as part of the International Monetary Fund’s extended fund facility program.
U. Khurelsukh stated that 500 million USD of the loan will be spent on reducing air pollution. The loan has a 30-year term and 0.2 percent annual interest. On the first day of his visit, the premier met with South Korean President Moon Jae-in and expressed his interest in cooperating with South Korean on solar energy and wind power. A meeting with Mongolians who live and study in South Korea was held on January 15. Currently, there are 46,000 Mongolians residing in South Korea, 33.7 percent more than residents recorded in January 2017. The two nations' prime ministers are expected to continue discussions this week, and will attend a South Korea-Mongolia business forum on January 16.
