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Korean Wave Spreads to Banks in Mongolia
Korea’s strong economic influence in Mongolia has expanded into the banking sector. A financial source based in Korea said Wednesday, that the Bank of Korea signed a Memorandum of Understanding with the Bank of Mongolia earlier this month to share Korea’s experience and knowledge of fiscal policy and expand cooperation between the two countries.
US, Japan Pushing to Dispose Nuclear Waste in Mongolia
The United States and Japan are reportedly trying to kill two birds with one stone by pushing to build a nuclear waste disposal facility in Mongolia, in return for providing the North Asian country with nuclear power-related technologies. Japanese daily The Mainichi Shimbun says the three countries have been negotiating the agreement since last September,. [...]
Greater Tumen Initiative Aims to Spur Regional Economic Cooperation
It’s been dubbed the Greater Tumen Initiative extending to North Korea, Mongolia and beyond. The envisioned mega economic bloc centers around the Tumen river which is near China’s border with North Korea. Vice minister of China’s National Development and Reform Commission, Xie Zhenhua, said that Northeast Asia plays an important role in promoting regional development, [...]