Korea and Mongolia took significant steps to deepen their partnership at the third Korea-Mongolia Future Strategy Forum, held Friday in Busan, where experts shared insights and challenges in collaborating in the areas of energy and health care.

Energy: Tapping into Mongolia’s vast potential

The first session focused on energy cooperation, a key area where the two nations can complement each other. Mongolia, with its vast reserves of coal and critical minerals like lithium and cobalt, is looking to modernize its energy sector and reduce greenhouse gas emissions, while Korea, reliant on energy imports for 94 percent of its needs, is eager to secure sustainable resources.

“Mongolia has set a goal to cut greenhouse gas emissions by 22.7 percent as part of its 2050 Long-Term Development Policy,” said Ganbaatar Enkhtvshin, director general of Mongolia’s Ministry of Energy. He outlined plans to expand renewable energy, address electricity shortages and develop eco-friendly tourism powered by clean energy. However, he acknowledged that challenges like infrastructure gaps and funding delays remain significant obstacles.

Korean energy expert Park Chan-kook, from the Korea Energy Economics Institute, noted that Mongolia’s energy mix is currently dominated by coal, which accounts for 86 percent of electricity production. “As demand for electricity in Mongolia grows rapidly, there’s an urgent need to diversify into renewables,” he said. He highlighted the opportunity for Korea and Mongolia to collaborate, with Mongolia providing raw materials for renewable technologies like batteries and Korea contributing advanced technology and investment.

Mongolian energy researcher Battsengel Lkhagvademberel added that much of Mongolia’s energy is wasted due to outdated systems. “Improving efficiency and integrating renewable energy will require significant innovation,” he said, outlining Mongolia’s exploration of hydrogen as a long-term clean energy solution.

Health care: From diagnostics to drug development

The second main session shifted focus to health care, with a specific emphasis on eliminating hepatitis, a major public health challenge in both Korea and Mongolia. Dr. Cho Nam-joon, a leading materials scientist and infectious disease expert from Singapore’s Nanyang Technological University, presented his groundbreaking work on combating hepatitis B and D -- viruses that significantly contribute to liver cancer worldwide.

Cho highlighted the prevalence of hepatitis in Mongolia, which has one of the highest rates of liver cancer globally, and detailed a trilateral research initiative between Stanford University, Korea and the Mongolian Onom Foundation. The collaboration has yielded a low-cost rapid diagnostics kit for hepatitis delta virus, priced under $3, with sensitivity and specificity rates nearing 100 percent.

“This achievement combines the technological expertise of Korea and Mongolia to create the world’s first rapid diagnostics kit for delta virus, enabling faster, more affordable detection and treatment,” he explained. The initiative has expanded to include diagnostics for hepatitis B and C, with the ultimate goal of eliminating hepatitis-related liver cancer globally.

Luvsan Khurelbaatar, chairman of Mongolia’s Monos Group, shared details about the Silk Road Project, a long-term initiative in partnership with Korea’s Daegu Haany University. The project aims to enhance medical education, research, and production in Mongolia, with a particular focus on traditional medicine and pharmaceutical innovation.

“We have been collaborating with Daegu Haany University for over 15 years, building a foundation of trust and shared expertise,” said Khurelbaatar. “Through this partnership, we are working to improve Mongolia’s medical workforce, foster innovation in research and development, and explore new markets for Mongolia’s unique natural resources.”

Khurelbaatar also discussed Monos Group’s broader activities, including the development of R&D centers in cooperation with Mongolian universities and investments in beauty and wellness products derived from plants native to Mongolia.

“This initiative will combine Mongolia’s rich natural resources with advanced Korean technology to develop new products for the global market,” he added.