A memorandum of understanding was signed between the
Mongol Bank, the Ministry of Finance, and the Savings Insurance Corporation of
South Korea on Thursday to introduce and popularize savings insurance in Mongolia.
Finance Minister Ch.Gankhuyag and the Director of the Korean company attended
the signing ceremony at the Mongol Bank.

The memorandum is intended to strengthen cooperation among the three
organizations. The Korean company would offer technical advice and assistance in
setting up the system of savings insurance and train staff.