South Korea and Mongolia agreed Wednesday to boost cooperation in developing Mongolia’s energy and mineral resources.
The agreement was made at a meeting between Prime Minister Han Seung-soo and his Mongolian counterpart Sanjiin Bayar at Han’s office in Seoul.
`The prime ministers had fruitful discussions on ways of expanding cooperation in resource development, which will pave the way for companies to participate in Mongolia’s copper mines development,” Han’s office said.
Korean companies are interested in bituminous coal and uranium ore development in Tavan Tolgoi in the Gobi Desert, industry sources said.
The prime ministers also agreed to cooperate to resolve issues in Northeast Asia, including the denuclearization of North Korea, the office said in a press release.
In addition, they decided to conduct joint research on a free trade deal between the two countries, it said.
Source: Korea Times