Korea and Mongolia are set to engage in the sixth round of official negotiations for a Comprehensive Economic Partnership Agreement (CEPA). The two countries aim to reach an agreement through focused discussions on product concessions and origin criteria.

The Ministry of Trade, Industry and Energy announced on June 30 that the sixth round of official CEPA negotiations will take place from July 1 to 3 in Ulaanbaatar, Mongolia. Leading the delegations are Kwon Hye-jin, Director of the Trade Negotiation Bureau from Korea, and Batkhuyag Idresh, Deputy Minister of Economic Development from Mongolia.

Since the CEPA negotiations began in December 2023, five official rounds have brought the countries closer to agreements in key areas such as goods, services, investment, digital trade, and economic cooperation. This sixth round will focus intensively on core issues, including product concessions and origin criteria, to seek a resolution.

Product concessions are central to negotiations, determining how tariffs on goods from the other country will be reduced. Origin criteria establish which products will qualify for preferential tariff treatment under the agreement, directly impacting how businesses utilize the CEPA.

The two countries are viewed as having complementary industrial structures. Korea possesses strong manufacturing and technological capabilities, while Mongolia boasts rapid economic growth and abundant natural resources. If the Korea-Mongolia CEPA is finalized and implemented, it is expected to enhance trade and investment between the two nations, as well as strengthen supply chain and industrial cooperation across various sectors, including infrastructure and consumer goods.

In the context of global supply chain restructuring, Mongolia's rich mineral resources position it as a strategic partner for cooperation in key minerals, resource development, and market entry. Despite its landlocked geography, Mongolia offers connectivity between Central Asia and Northeast Asia, increasing potential for collaboration in logistics, infrastructure, consumer goods, construction, energy, and digital sectors.

Kwon Hye-jin stated, "We will focus on reaching substantial agreements on key areas such as product concessions and origin criteria during this negotiation. We will do our utmost to find a mutually beneficial balance in market opening between the two countries."

By Kim SeongSeo

Published Date:2026-06-30