President Lee Myung-bak and Mongolian President Tsakhia Elbegdorj held a summit on August 22, where they adopted a joint statement to substantially enhance bilateral cooperation between Korea and Mongolia.
The two countries also signed a memorandum of understanding (MOU) to strengthen cooperation in resource development.
After arriving in Mongolia on August 21, President Lee attended an official welcoming ceremony the next day with his Mongolian counterpart President Elbegdorj, and held summit talks in Ulan Bator, the capital city of Mongolia.
The two leaders agreed to upgrade Korean-Mongolian relations to a "comprehensive partnership" and adopted the joint statement. Through the joint statement, the two countries agreed to expand Korea's participation in the development of natural resources such as coal, uranium, copper and steel, extend airline routes between the two countries, and simplify and expand the issuance of multiple visas.
They also adopted a mid-term action plan to boost bilateral cooperation in various sectors, including politics, economy, society and culture.
The mid-term action plan also contains joint projects to build 100,000 apartment units in Mongolia, expand human exchange in construction and medical sectors, and establish a joint committee on natural resources and energy.
President Lee said he will do his utmost to help Mongolia develop the country's healthcare, welfare, information and environment sectors.
The two leaders also agreed to expand cooperation in human and cultural exchanges as well as mutual cooperation in mineral resources, energy and construction.
In regards to inter-Korean issues, President Lee explained Seoul's efforts to work toward the denuclearization of the Korean Peninsula. President Lee and President Elbegdorj shared a common understanding of the importance of a dialogue between the two Koreas.
After the summit talks, the two leaders signed an MOU on boosting bilateral strategic cooperation in energy and resource sectors and a contract on cooperation in health and medical care industries between the two countries.
source: APEC-VC Korea
