Ulaanbaatar
Business forum for national entrepreneurs organized in Korea
Economy
Ulaanbaatar /MONTSAME/ The Ministry of Food, Agriculture and Light Industry organized event titled ‘Role of Mongolian expats in Korea in SME development’ on May 24-28. Over 40 entities participated in ‘Made in Mongolia 2019’ trade fair, selling MNT 19.8 million worth products.
In addition to Mongolian expats in Korea, the event attracted many Korean residents. A total of eight entities that produce wool, cashmere, leather, sewn products and national costumes signed Memorandums of Cooperation with each other.
Business forum for Mongolians in Korea, B2B meetings for business entities, project competition and training on project writing were also organized during the event. Participants requested to organize the event annually and more widely.
Delegates of the Ministry of Food, Agriculture and Light Industry met with the representatives of SME and Startups Administration of Seoul and NH Agricultural cooperative of Daejeon. Head of the cooperative proposed to train 2-3 representatives of Mongolian cooperatives and support the development of ‘Model cooperative’ in one chosen soum. Daejeon agriculture cooperative operates with 1500 members and earns about MNT1 billion profit annually.
The delegates also held meeting with Korean Authority for Finance, Investment, Technology, Innovation and Venture Fund for SMEs and Startups, exchanging views on cooperation.
