Signs Strategic Partnership Agreement with Mongolia

From left, KT CEO Ku Hyeon-mo, BC Card CEO Choi Won-seok, Director General of Payment System Department at the Bank of Mongolia (BoM) Anar Enkhbold, and Governor of BoM Lkhagvasuren Byadran pose for a photo after singing the N2N (Korea-Mongolian card payment linkage) business contract at BoM's headquarters in Ulaanbaatar, Mongolia, on Jan. 26.

KT has signed a strategic partnership agreement with the Mongolian government to help the country promote digitalization.

It also inked a memorandum of understanding with the Mongolian government to supply Mongolian mineral resources including rare earth elements to Korea. KT will come up with a specific supply plan through discussions with the Korean government and Korean corporations.

A signing ceremony was held in Ulaanbaatar, the capital of Mongolia, on Jan. 26 in the presence of KT CEO Koo Hyun-mo and Mongolian Prime Minister Oyun-Erdene Luvsannamsrai.

In addition, KT CEO Koo was appointed as Mongolia's Chief Technology Officer (CTO), becoming the first foreign businessman appointed to the post.

Mongolia is pushing for digitalization of all industries. The Mongolian government announced a new growth policy for the country's economic development in 2021. In May 2022, the Ministry of Digital Development was newly established by the Mongolian government. 

 

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