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South Korea and Mongolia Sign MOU on Renewable Energy Cooperation
South Korea and Mongolia signed a memorandum of understanding on July 9 to cooperate on renewable energy development, power infrastructure and climate policy. The agreement was reached in Ulaanbaatar during a summit between the two countries' presidents.
Jul 9, 5:41 AM·1m read1 source
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South Korea and Mongolia signed a memorandum of understanding on July 9 to cooperate on energy transition and renewable energy development, Yonhap reported. Kim Sung-whan, South Korea's minister of climate, energy and environment, and Badrakh Naidalaa, Mongolia's energy minister, signed the document in Ulaanbaatar.
The signing took place on the sidelines of a summit between South Korean President Lee Jae Myung and Mongolian President Ukhnaa Khurelsukh.
The agreement covers renewable energy development, power infrastructure, climate policy, heat pump-based district heating systems and development of a skilled workforce in Mongolia's energy sector. The two countries also plan to hold a South Korea-Mongolia energy business forum to promote exchanges between companies.
"Mongolia has enormous renewable energy potential, with its vast territory, and abundant wind and solar resources," Kim said.
He added that the South Korean government will help Korean companies expand into Mongolia's eco-friendly energy market, including the energy storage systems sector.
