이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
EPA is a kind of free trade agreement (FTA), seeking free trade of commodities and services. It focuses on industrial and investment sectors.
The possible Korea-Mongolia EPA is Mongolia’s second FTA following the Japan-Mongolia EPA which came into effect last month. The East Asian country initially took a passive attitude toward EPA with South Korea due to negative public sentiment of Japan-Mongolia EPA but it has decided to seek the bilateral EPA in the summit meeting.
In particular, as the East Asian country has been pursued cooperation diversification with South Korea, the U.S. and Japan in order to get out of excessive economic dependence on China and Russia, the EPA is highly likely to be signed. For South Korea, the possible EPA is significant in that Mongolia is a resource rich country.
South Korea is Mongolia’s fourth trading country but the trade volume of the two countries peaked at $490 million in 2012 and it has gradually decreased with $430 million in 2013, $370 million in 2014 and $290 million in 2015.
The presidential office said that the summit meeting has also decided to help South Korean companies participate in 14 infrastructure projects worth $4.49 billion in Mongolia.
By Nam Gi-hyun
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