Korea’s Ministry of Trade, Industry and Energy Monday called for deeper cooperation with Mongolia in the minerals sector during the Mongolia-Korea Critical Minerals & Mining Investment Forum 2025 in Seoul.
The forum brought together government officials, business leaders and industry stakeholders from the two countries to discuss bilateral cooperation in critical minerals and promote sustainable investment, aiming to reshape the global supply chain.
“Recently, amid global instability in critical mineral supply chains from the U.S.-China strategic rivalry and China’s export controls, as well as major transformations in the energy market, Korea and many other countries are accelerating efforts to strengthen the security of critical minerals,” Vice Minister of Trade, Industry and Energy Lee Ho-hyeon, who oversees energy policy, said at the forum.
He noted that the two countries share mutually beneficial opportunities as Mongolia holds abundant reserves of minerals such as molybdenum, nickel and tin, while Korea has skilled professionals and advanced technologies in industries such as semiconductors, electric vehicles and batteries that rely on those critical minerals.
“Our cooperation (should further) lead to concrete joint development and investment projects between private enterprises,” the vice minister said, adding that such projects will contribute to the sustainable economic development of Mongolia and stability of the critical mineral supply chain for Korea.
“The Korean government will also expand its support for overseas resource development, including financing for overseas resource exploration, as well as tax, policy and financial measures, in order to actively support the entry of Korean companies into Mongolia.”
Uchral Nyam-Osor, Mongolia’s first deputy prime minister and minister of economy and development, speaks during the Mongolia-Korea Critical Minerals & Mining Investment Forum 2025 in Seoul, Monday. Courtesy of Embassy of Mongolia in Seoul 
Uchral Nyam-Osor, Mongolia’s first deputy prime minister and minister of economy and development, speaks during the Mongolia-Korea Critical Minerals & Mining Investment Forum 2025 in Seoul, Monday. Courtesy of Embassy of Mongolia in Seoul
A series of memorandum of understanding signings were held during the forum between the two countries’ participating companies, including Mongolia’s state-owned Erdenes Mongol and Korea’s Korea Mine Rehabilitation and Mineral Resources Corp. and Samsung C&T, laying the groundwork for joint development and supply of critical minerals.
“We are working to combine Mongolia’s abundant natural resources with Korea’s high-tech industries, processing capacity and advanced technologies, thereby creating a stronger partnership and enabling businesses of both countries to compete together on the global market,” Uchral Nyam-Osor, Mongolia’s first deputy prime minister and minister of economy and development, said in his opening remarks.
“Mongolia is open to trade and investment, implementing favorable conditions to attract and secure foreign capital … We are confident these efforts will encourage more foreign investors in Mongolia.”
The forum featured presentations highlighting Mongolia’s evolving mining policy and the country’s strategic commitment to building a robust and value-added mining supply chain, as well as Korea’s strategy for securing stable access to essential resources.
Damdinnyam Gongor, Mongolia’s minister of industry and mineral resources, also announced the upcoming opening of a joint research center on rare metals between the two countries in November.
“I am confident that once operational, this joint center will greatly advance rare metal research, exploration, processing and development,” he said.

Published Date:2025-09-22