(Ulaanbaatar = Yonhap News) Reporter Kim Do-hoon – South Korean President Lee Jae-myung and Mongolian President Ukhnaagiin Khürelsükh listen to a participant's remarks at the Korea-Mongolia Business Forum held at a hotel in Ulaanbaatar on the 9th (local time). 2026.7.9 superdoo82@yna.co.kr
According to Yonhap News,
(Seoul = Yonhap News) Reporter Cho Sung-hum – Key business leaders from South Korea and Mongolia gathered to discuss expanding economic bilateral cooperation into future growth sectors.
On July 9, the Korea Chamber of Commerce and Industry (KCCI), in joint partnership with the Korea Trade-Investment Promotion Agency (KOTRA) and the Mongolian National Chamber of Commerce and Industry (MNCCI), hosted the 'Korea-Mongolia Business Forum' at the Ulaanbaatar Hotel in Mongolia.
The event drew approximately 300 political and business figures from both nations, including South Korean President Lee Jae-myung—who is currently on a state visit to Mongolia—and Mongolian President Ukhnaagiin Khürelsükh.
From the South Korean side, around 180 delegates attended, led by LS Group Chairman Koo Ja-eun (head of the economic delegation), along with POSCO Holdings Chairman Chang In-hwa, Seoul Chamber of Commerce and Industry Vice Chairman and SK Vice Chairman Lee Hyung-hee, LG CNS CEO Hyun Shin-gyun, Hanwha Investment & Securities CEO Jang Byung-ho, POSCO International President and CEO Lee Gye-in, GS Retail CEO Huh Seo-hong, E-Mart CEO Han Chae-yang, KakaoBank CEO Yun Ho-young, BGF Retail Vice Chairman Hong Jung-kuk, and Megazone Cloud Chairman Lee Ju-wan.
Representing the Mongolian side, approximately 120 officials gathered, including First Deputy Prime Minister and Minister of Economy and Development Jadambyn Enkhbayar, Deputy Prime Minister Togmid Dorjkhand, Minister of Foreign Affairs Battsetseg Batmunkh, MNCCI Chairman Baatarjav Lkhagvajav, MCS Group Chairman Jambaljamts Odjargal, Sky Hypermarket Chairman Batbold Batu-Sigh, and Tavan Bogd Group Chairman Tsagaach Baatarsaikhan.
Under the theme of 'Mutual Growth Partnership through Future Industry Cooperation,' the forum addressed specific action plans to broaden economic collaboration, focusing on three key areas: critical minerals, retail and consumer goods, and digital technology.
In his welcoming address, Chairman Koo Ja-eun emphasized, "Economic cooperation between South Korea and Mongolia has historically developed around mineral resource development, retail, and the consumer goods market. Now, based on these existing cooperative achievements, it is time to expand the horizon of our partnership into future growth sectors."
The forum yielded tangible outcomes, highlighted by the signing of 21 memoranda of understanding (MOUs) and business contracts.
POSCO International agreed to initiate joint exploration and research on critical minerals in partnership with the Genghis Khan National Wealth Fund. E-Mart committed to supporting export channel development for domestic Korean enterprises through a joint promotional campaign with Sky Hypermarket, celebrating the 10th anniversary of E-Mart's expansion into Mongolia. Concurrently, KakaoBank partnered with MCS Holdings to advance digital financial cooperation between the two nations.
Furthermore, building upon their 2016 agreement on international trade, retail, and logistics, KCCI and MNCCI signed a new memorandum of understanding to elevate their bilateral partnership.
Yoon Chul-min, Executive Director of the International Trade Division at KCCI, stated, "KCCI will continuously provide support so that cooperation between our two countries moves beyond simple exchanges to drive the industrial advancement of Mongolia while creating new business opportunities for South Korean enterprises."
MBC Gyeongnam Broadcast on the Korea-Mongolia Business Forum
This broadcast covers the shared aspirations and opening remarks from the business leaders of both nations during the Korea-Mongolia Business Forum held in July.
josh@yna.co.kr
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Source Text
Source: Yonhap News (July 09, 2026)
** This article was translated from Korean.