The Minister for Foreign Affairs of Mongolia, L.Bold finished his successful visit to the Republic of Korea on Friday. The Mongolia-South Korea Business Forum was established with the aim to bring bilateral economic relations between Mongolia and South Korea to a new level. Foreign Affairs Minister L.Bold signed a Memorandum of Understanding for a partnership for the Forum.

The Mongolia – South Korea Business Forum was formed by a joint venture of political and business leaders from both countries including the directors of South Korean corporations Korean Air, Samsung, Hyundai Motors, POSCO, Daelim and on the Mongolian side MP G.Batkhuu, CEO of “Erdenes Tavan Tolgoi” JSC state owned mining company, Ya.Batsuuri.

During the visit the Foreign Minister met Mr. Pak Yong-sung, head of the Standing committee on justice of the South Korean National Assembly (Parliament) asking support to ease Korean visa related issues for Mongolian passport holders. He noted that the number of Mongolian travelers visiting South Korea  increases year on year despite the expense required for the deposit for the visa application charged by  the Korean side. Minister L.Bold stated that this not only causes trouble to Mongolian travelers but also leads to misunderstandings with Korea and violates the agreements between the two countries. Mr. Pak Yong-sung accepted the request and pledged to reply as soon as the issue is solved.