1. The “5^th Republic of Korea-Mongolia Joint Committee Meeting” was held in a virtual format on November 24, with Vice Minister of Foreign Affairs Lee Taeho and Minister of Environment and Tourism of Mongolia Davaajantsan Sarangerel leading their respective delegations.

2. With this year marking the 30^th anniversary of the establishment of diplomatic relations between the ROK and Mongolia, the two sides noted the progress in bilateral relations and had in-depth discussions on ways to enhance and strengthen bilateral relations in various areas, including substantive cooperation in people-to-people exchanges, economic affairs, health, and education, as well as development cooperation and regional and global cooperation.

o The two sides shared the view that the bilateral relations have steadily developed through close high-level exchanges and communication, mutually-beneficial economic cooperation, and robust people-to-people exchanges for the past 30 years since the establishment of diplomatic relations in 1990. They also noted with appreciation that the momentum of the development of bilateral relations is continuing as seen from holding various celebratory events marking the 30^th anniversary of the establishment of diplomatic relations between the two countries even amid the COVID-19 pandemic.

o The two sides positively noted that the two countries have smoothly cooperated in supporting the repatriation of Mongolians overseas and bringing home Korean nationals, and agreed to make joint efforts to continue essential exchanges and cooperation, including resuming regular flights and increasing temporary flights.

o The Mongolian side expressed appreciation to the ROK for providing equipment for disease prevention and control, including test kits and masks, to support Mongolia’s response to COVID-19. The two sides agreed to work together to continue cooperation in disease prevention and control.

o The ROK side suggested that in preparation for the post-COVID-19 era, the ROK and Mongolia, a key cooperation partner for the ROK’s New Northern Policy, expand bilateral cooperation to new areas including financial cooperation in addition to the existing infrastructure cooperation. The Mongolian side stated that many countries including Mongolia are expressing support for the ROK’s New Northern Policy and that Mongolia will also cooperate on the New Northern Policy.

o The two sides hoped that Mongolia’s accession to the Asia-Pacific Trade Agreement (APTA) would help expand access to each other’s markets, and agreed to continue working-level consultations to conclude the ROK-Mongolia Economic Partnership Agreement (EPA) and revise the ROK-Mongolia Investment Promotion and Protection Agreement.

o The two sides also agreed to work together for the successful implementation of the existing projects in health, education, SMEs and startups, and transportation and infrastructure, and continue to explore ways to increase cooperation in the areas.

o The ROK side expressed hope that bilateral relations would advance further by reinforcing development cooperation with Mongolia, the ROK’s key partner for development cooperation. The Mongolian side highly recognized that the ROK’s development cooperation projects are contributing significantly to Mongolia’s social and economic development, and asked for the ROK’s continued attention to the projects in which the Mongolian government has particular interests.

o The ROK side expressed appreciation to Mongolia for being the first to show support for the “Northeast Asia Cooperation Initiative for Infectious Disease Control and Public Health” proposed by the ROK President in his keynote address at the UN General Assembly on September 23. The two sides agreed to reinforce cooperation on the regional and international stage, including the ROK’s “Northeast Asia Platform for Peace and Cooperation” and Mongolia’s “Ulaanbaatar Dialogue.”

3. The 5^th Joint Committee Meeting was held virtually to celebrate the 30^th anniversary of the establishment of diplomatic relations and continue the momentum of the development of bilateral relations even under the circumstances where face-to-face exchanges are difficult due to COVID-19. The meeting served as an opportunity to hold constructive and productive discussions on ways to strengthen cooperation in various fields with Mongolia, the most important cooperation partner for the ROK government’s New Northern Policy.