1. On May 31, Foreign Minister Kim Sung-Hwan met with his Mongolian counterpart Gombojav Zandanshatar, who is on an official working visit to the Republic of Korea on May 31-June 1.

2. In their meeting, the two Ministers reviewed the progress in the mid-term action plan agreed upon during President Lee Myung-bak’s state visit to Mongolia in August 2011. They then discussed key bilateral matters, including permitting numerous airlines to operate flights between the two countries, as well as the situation on the Korean Peninsula and ways to work together on the international stage.

° Minister Kim mentioned that the limited number of airlines operating the Incheon-Ulan Bator flights has led to inconveniences such as a shortage of seats and high airfares. He asked for the Mongolian government’s cooperation and efforts to allow more airlines to run such flights. In response, Minister Zandanshatar expressed support for the liberalization of the air service industry and promised to hold working-level negotiations to this end.

° Minister Kim also requested the Mongolian government’s cooperation in resolving the issue of ROK investors in Mongolia having to renew their investment visa every year. Minister Zandanshatar pledged to relay the request to relevant authorities in Mongolia.

3. Immediately after their meeting, the two Ministers signed a bilateral agreement to streamline the visa process. The agreement, when effectuated, will grant ROK nationals multiple-entry visa valid for a maximum of five years, up from the current maximum of one year, and exempt them from visa fees. In addition, those staying long in Mongolia will no longer have to obtain an exit visa for a temporary stay out of the country. As such, the agreement is expected to help improve the convenience of ROK nationals staying in Mongolia and further promote people-to-people exchanges and economic cooperation.

4. Later in the day, Minister Kim hosted a dinner for Minister Zandanshatar at his official residence. The two Ministers and guests exchanged views on ways to tighten the friendly ties between the two countries.

                                       Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation