Daily Business News Mongolia

In recent years, under the joint efforts of Mongolia and the Republic of Korea, bilateral exchanges and cooperation in such fields as politics, trade, economy, culture and education have been growing continuously. On October 15-17, 2008, Mongolian Prime Minister Mr. S.Bayar paid an official visit to the Republic of Korea. Delegations from Anod bank accompanied the Prime Minister and Mr. L. Ulambayar, CEO of Anod bank, and Mr. Park Byung Sik, President of KCH Industry Development Co.,ltd, signed a Memorandum of Understanding (MOU) during the visit. Within objectives to transfer investment financing, the KCH Industry Development Co.,ltd, the Korean biggest investment company, selected Anod bank based on its result of study to seek possibilities for mutual investment cooperation in the field of mining, banking and some business activities in Mongolia. This document outlines the collaborative ways of expanding and strengthening the partnership between the two institutions. In addition, the Prime Minister was accompanied by three Mongolian companies’ representatives.

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