Governor of the Bank of Mongolia Narantsogt Sanjaa held an official meeting with Daniel Yun, founder and CEO of South Korea’s leading digital bank, KakaoBank, and the bank’s senior management at their request.

Representatives of KakaoBank presented their plans to invest in and cooperate with M Bank, Mongolia’s first digital bank. They also shared that they are exploring opportunities to introduce digital banking solutions currently used in South Korea to the Mongolian market.

During the meeting, Governor Narantsogt emphasized that the Bank of Mongolia actively supports the introduction of advanced banking and financial services offered by foreign financial institutions into the domestic market, to expand opportunities and improve services for consumers.

In this context, he noted that the central bank is working to improve the necessary legal and regulatory environment and to provide other forms of support required to facilitate such initiatives.

According to the Bank of Mongolia, the two sides also exchanged views on the current economic conditions in their respective countries, the digital transformation of the financial sector, developments in payment systems, and emerging trends in artificial intelligence and financial technology.

Published Date:2026-06-19