Ulaanbaatar
Mongolia, Republic of Korea Expand Cooperation in Urban Development and Housing
Society
Ulaanbaatar, September 26, 2025 /MONTSAME/. Mongolia and the Republic of Korea will expand cooperation in improving the legal framework and regulations for housing, implementing them effectively, and conducting training and seminars to build the capacity of citizens and businesses.
State Secretary of the Ministry of Urban Development, Construction, and Housing, M. Bayaraa, reached this agreement during his working visit to the Republic of Korea at the invitation of the Ministry of Land, Infrastructure, and Transport of the Republic of Korea.
He held talks with Vice Minister of Land, Infrastructure, and Transport Lee Sang Kyeong and signed a Memorandum of Understanding on cooperation to improve urban development, housing, and spatial infrastructure data between the two countries.
The State Secretary Bayaraa also met with representatives of the Board of the Korea Housing and Urban Guarantee Corporation (HUG) to discuss cooperation on increasing housing supply in Mongolia.
The HUG plays a key role in the Republic of Korea by increasing affordable housing supply, implementing urban redevelopment projects, carrying out housing programs for targeted groups, issuing guarantees to attract financing for large projects, and prioritizing households for housing allocation based on their down payment contributions.
