Today, Mongolian Prime Minister U.Khurelsukh concluded his three-day visit to South Korea. During the trip, he met with South Korean President Moon Jae-in and negotiated with his counterpart Lee Nak-yeong.

The main result of the visit is that a soft-loan deal has been reached, under which Mongolia will receive a total of USD 700 million, with a repayment period of 30 years and interest of 2 percent. As part of the deal, South Korea is exempting Mongolia from repayment for the first 10 years.

The soft loan will be used to target decreasing air-pollution in Ulaanbaatar and undertaking construction sector projects.