Daewoo E&C chairman calls for enhanced Korea-Mongolia cooperation

Daewoo Engineering & Construction Chairman Jung Won-ju, who doubles as chairman of Herald Corp., expressed his hopes for the South Korean government to join in strengthening cooperation with Mongolia.

“In Daewoo’s latest success in a bid for a nuclear power plant in the Czech Republic, the South Korean President and the Trade Minster were actively engaged on multiple occasions,” said Jung during a special networking event held in Ulaanbaatar, Mongolia, on Aug. 26.

"I would like to express appreciation to the Korean government (for their support). I hope to collaborate with the government once again in Mongolia to jointly develop the added value of the country's resources,” he added.

The networking event, held the day before the Korea-Mongolia Vision Forum, brought together over 150 participants, including political, academic and business figures, interested in enhancing exchange between Korea and Mongolia.

The dinner event was attended by Kim Sook, co-president of the Korea-Mongolia Vision Forum and former UN ambassador; Park Young-june, director and vice president of Ahnsei Foundation; Rep. Kim Dae-sik, a member of Korea’s National Assembly from People Power Party; Jang Young-jin, CEO of Korea Trade Insurance Corporation; Yang Kum-hee, vice governor for economic affairs of North Gyeongsang Province; Choi Jin-young, CEO of Herald Corp.; and Rep. D. Uuriintuya, a member of the State Great Khural, the Mongolian parliament.

Throughout the event, participants emphasized the importance of public-private cooperation, particularly in the areas of mineral resources, renewable energy and health care, to drive further investment in Mongolia.

"As Mongolia’s per capita income surpasses $5,000 and the average life expectancy exceeds 70 years, the demand for health care is rapidly increasing among local Mongolians," said Choi Jin-won, the South Korean ambassador to Mongolia.

"While the trade volume between the two countries is not yet substantial, the active exchanges between South Korea and Mongolia are promising," he added.

Echoing this sentiment, Uuriintuya expressed her desire for broader cooperation opportunities with Korea, "We hope to undertake major projects with South Korea, not only in the mineral resources sector such as copper but also in areas like health care and education, to create much greater outcomes."