The Korea Shipping Association announced on the 11th that it has signed a memorandum of understanding (MOU) with the Mongolian Maritime Administration to develop the shipping industry and enhance cooperation between the two countries.
The signing ceremony took place on the 3rd in Ulaanbaatar, Mongolia, with attendance from Minister Delger Tsai Khan Borhu of the Mongolian Ministry of Road and Transportation, Yang Chang-ho, Vice President of the Korea Shipping Association, and other officials from both sides.
With this agreement, both sides agreed to strengthen cooperation for the growth of the shipping industry, including the exchange of information in the shipping sector, sharing of shipping industry policies, and knowledge exchange among experts in the shipping field.
Immediately after the signing ceremony, both sides held a meeting to discuss Mongolia's vessel registration system and the use of Mongolian-flagged shipping companies for South Korean import and export goods.
Yang Chang-ho noted, “I expect that today’s memorandum of understanding will activate exchanges while sharing shipping-related policies and various shipping information for the growth of the shipping industry, and that we can mutually cooperate in areas of common interest between the two countries.”