Mongolia and South Korea reached an agreement on Monday to expand bilateral cooperation and intensify intergovernmental activities in promoting relations between the two countries.

The agreement was reached during talks between Mongolian Prime Minister Erdenebat Jargaltulga and South Korean President Park Geun-hye, who was on a five-day visit to the landlocked country.

In the talks, Jargaltulga stressed that his country stands ready to develop relations with South Korea, an important trade and investment partner to Mongolia.

He said that the Mongolian government will strive to improve the legal environment to restore confidence of investors and create a favorable investment environment.

During the talks, the two sides also discussed regional security issues, including denuclearization of the Korean Peninsula, according to Jargaltulga.

For her part, Park urged attention to the development of economic cooperation between the two countries.

During Park's stay in Mongolia, the two countries also signed 20 memorandums of understanding on bilateral cooperation. 
Source:XINHUA