AGP Executive Report
Last update: 6 hours agoKorea–Mongolia Trade Push: South Korea and Mongolia moved toward a “golden era” after President Lee Jae Myung’s state visit, with leaders backing a CEPA that would cut tariffs and lift market access, aiming for $1bn bilateral trade by 2030 and deeper critical minerals cooperation. Deal Momentum: The two sides also signed 21 documents, including mutual recognition of driving licenses and an MoU for a Second National Cancer Center. Rare Metals Supply Chain: South Korea and Mongolia agreed to upgrade their rare metals cooperation committee to ministerial level and revise a 2023 MOU to keep the supply-chain center sustainable. Finance for Imports: Korea Eximbank will provide $30m financing support via a two-step loan facility to help Mongolian importers buy South Korean goods. Business Banking Tie-Up: KakaoBank CEO Yun Ho-young joined the visit and signed a term sheet with Mongolia’s MCS Holdings for investment in its digital banking unit M Bank. Logistics & Connectivity: A ministerial-level push also includes a logistics council and broader bilateral cooperation agreements to make trade flows easier.
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