Ulaanbaatar, November 20, 2025 /MONTSAME/. The Governments of Mongolia and the Republic of Korea reaffirmed their commitment to bilateral cooperation at the 9^th Intergovernmental Joint Committee Meeting in Ulaanbaatar on November 19, 2025.

Co-chaired by Byambatsogt Sandag, Minister and Chief of Cabinet Secretariat of Mongolia, and Kim Jina, Vice Minister of Foreign Affairs of the Republic of South Korea, the two sides held in-depth discussions spanning multiple areas of cooperation, including trade, investment, mineral resources, energy, road transport, environmental protection, education, healthcare, and civil service reform.

Industrial Projects

To advance economic diplomacy, both sides agreed to promote the participation of Korean enterprises in open tenders for major industrial development projects in Mongolia. These include forthcoming initiatives in steel smelting and copper processing – strategic priorities aligned with Mongolia’s long-term vision to expand its industrial base and attract foreign investment.

Trade Imbalance and Market Access

The Mongolian side highlighted the significant trade imbalance, noting that annual exports to Korea total just over USD 50 million, while imports exceed USD 500 million. To address this disparity, Mongolia emphasized the need to improve market access for its domestic products, particularly agricultural and livestock-based goods such as leather, wool, cashmere, and meat, under the proposed trade framework.

Visa Policy and Citizen Mobility

Minister Byambatsogt voiced concern over the visa barriers encountered by Mongolian citizens traveling to South Korea, urging both sides to find practical solutions. He specifically proposed exempting medical travelers from visa requirements and called for stronger protections for Mongolian nationals residing in Korea. “Unless practical steps are taken to resolve the visa challenges facing our citizens, Mongolia may need to consider reciprocal visa requirements for Korean nationals beginning in 2026,” he stated.  

Air Connectivity and Tourism Growth

The liberalization of air transport between Mongolia and South Korea has substantially enhanced bilateral connectivity. Weekly flight frequencies have increased from 7 to over 70, while average fares have declined from MNT 3 million to MNT 1 million. As a result, inbound tourism from Korea surged, with Mongolia receiving 180,000 Korean visitors in a single year, 2025.

At the end of the session, both sides agreed to take concrete steps on shared priorities and address key challenges, marking a meaningful step forward in the Mongolia-Korea strategic partnership and regional cooperation.