President Yoon Attends Korea-Mongolia Business Forum with Major Retailers

President Lee Jae-myung attended the 'Korea-Mongolia Business Forum' in Ulaanbaatar on July 9, local time, alongside Mongolian President Ukhnaagiin Khurelsukh.

According to a written briefing from Chief Presidential Spokesperson Kang Yu-jeong, the forum is co-hosted by South Korea's Ministry of Trade, Industry and Energy and Mongolia's Ministry of Foreign Affairs, with the Korea Chamber of Commerce and Industry, KOTRA, and the Mongolian National Chamber of Commerce and Industry overseeing the event. More than 300 representatives from both governments and businesses are expected to participate.

From South Korea, major companies including LS, POSCO, GS Retail, E-Mart, and LG CNS will be represented, while Mongolia will have key firms such as MCS Group, Tavan Bogd Group, and MAK (Mongolyn Alt) Group attending, focusing on sectors like critical minerals, retail, and finance.

Business leaders at the forum will discuss ways to enhance economic cooperation between the two countries.

Notable attendees from South Korea include Koo Ja-eun, Chairman of LS Holdings; Jang In-hwa, Chairman of POSCO Holdings; Lee Hyung-hee, Vice Chairman of SK; Hyun Shin-kyun, President of LG CNS; Heo Seo-hong, CEO of GS Retail; Han Chae-yang, CEO of E-Mart; Hong Jeong-guk, Vice Chairman of BGF Retail; Jang Byeong-ho, CEO of Hanwha Investment & Securities; and Yoon Ho-young, CEO of Kakao Bank, totaling over 180 participants.

From the Mongolian side, over 120 representatives will include Odbayar, Chairman of MCS Group; Baatarsaihan, Chairman of Tavan Bogd Group; Chelmuun, Chairman of MAK Group; Batusig, Chairman of Sky Hypermarket; and Munkhtuya, representative of Khan Bank.

In his opening remarks, President Lee is expected to emphasize the importance of expanding mutually beneficial cooperation, particularly in critical minerals and infrastructure.

Additionally, the forum will facilitate the signing of private memorandums of understanding (MOUs) in areas such as critical minerals, energy, retail, and digital sectors, under the supervision of Minister of Trade, Industry and Energy Kim Jeong-kwan and relevant Mongolian ministers.

As a side event, an export consultation meeting will also take place, featuring participation from over 20 South Korean companies and more than 40 Mongolian firms.