{"id":2198427,"date":"2022-09-20T10:33:15","date_gmt":"2022-09-20T10:33:15","guid":{"rendered":"https:\/\/www.nknews.org\/koreapro\/?p=2198427"},"modified":"2023-04-05T16:11:35","modified_gmt":"2023-04-05T07:11:35","slug":"why-the-yoon-administration-sees-a-powerful-partner-in-mongolia","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2022\/09\/why-the-yoon-administration-sees-a-powerful-partner-in-mongolia\/","title":{"rendered":"Why the Yoon administration sees a powerful partner in Mongolia"},"content":{"rendered":"
In strictly objective terms, Mongolia is far from a major global player. Its population of about <\/span>3.3 million<\/span><\/a> is roughly similar to <\/span>Puerto Rico<\/span><\/a>. Its annual gross domestic product in 2021 was just over <\/span>US$15 billion<\/span><\/a>, around 130th among all countries and territories.<\/span><\/p>\n Yet the vast, landlocked nation is also rich in natural resources and has positioned itself as a neutral party in regional disputes, two things that have not escaped the notice of South Korea in recent years.<\/span><\/p>\n Since establishing diplomatic relations in 1990, South Korea and Mongolia elevated their ties to a \u201ccomprehensive partnership\u201d in 2011 and then to a “<\/span>strategic partnership<\/span><\/a>\u201d in 2021. Now under the Yoon administration, the two countries have the potential to deepen cooperation in a range of areas ranging from technology and tourism to the environment.<\/span><\/p>\n These efforts could face hurdles due to Mongolian laws and other factors that have made Korean investors wary of doing business in the country in the past. But at least diplomatically, Mongolia appears eager to play a mediating role on Korean Peninsula issues.<\/span><\/p>\n EFFORTS UNDER THE MOON ADMINISTRATION<\/b><\/p>\n Former President Moon Jae-in saw Mongolia as a key <\/span>partner<\/span><\/a> in his New Northern Policy, which aimed at improving strategic ties with northern countries. The first formal meeting under Moon came in Jan. 2018, when he met then-Mongolian Prime Minister Ukhnaagiin Khurelsukh. The two sides <\/span>discussed<\/span><\/a> ways to increase cooperation, while Ukhnaagiin also offered his full support to Moon\u2019s peace-driven agenda with North Korea.\u00a0<\/span><\/p>\n In 2020, South Korean finance minister Hong Nam-ki <\/span>expressed<\/span><\/a> the government\u2019s desire to further economic cooperation with northern countries, including Mongolia. That year also marked the 30th anniversary of diplomatic relations. At the time, South Korea\u2019s Ambassador to Ulaanbaatar Lee Yeo-hong <\/span>lamented<\/span><\/a> that high-level visits would have to be postponed due to the pandemic.\u00a0<\/span><\/p>\n Nevertheless, the countries\u2019 leaders were able to meet again last year and followed through with their plans from 2018 to elevate bilateral ties, upgrading their relationship to a \u201cstrategic partnership\u201d and laying out multiple areas for further cooperation.<\/span><\/p>\n During their virtual summit, the two leaders <\/span>agreed<\/span><\/a> to deepen and expand cooperation in many fields, ranging from politics and the economy to science, technology, health and tourism. Moon also particularly <\/span>emphasized<\/span><\/a> the potential for cooperation\u00a0between the two nations in eco-friendly industries such as green energy.<\/span><\/p>\n Overall, the Moon administration strengthened relations with Mongolia and laid important groundwork for further cooperation between the two nations. <\/span><\/p>\n