The MoU ceremony was attended by former Minister of the Ministry of Education and Culture, Chairman of the Board of Steppe Metal Powder LLC, Tsagaan Puntsag, Dr. Soon-Jik Hong, Director of CAMP2, D. Tsolmonbaatar, Director of the Research and Technology Department of MUST, Dr. Moon Sohn, Manager of the "Cultural Heritage Preservation and Protection Project," and B. Askhar, Executive Director of Steppe Metal Powder LLC. 

Within the scope of the MoU, the parties will prioritize joint research, development, and production of advanced powder materials and spare parts based on them. 

Professor Soon-Jik Hong, Director of the CAMP2, said he is looking forward to exchanges and supply chains between the Republic of Korea and Mongolia in the field of powder metallurgy, particularly in terms of advanced technology, equipment, human resources, and metals.  

Chairman of the Board of Steppe Metal Powder LLC, Tsagaan Puntsag said that Mongolian and Korean universities, which represent the academic cornerstones of the two countries, are now starting to cooperate with the private sector, creating new opportunities in progressing the level of industrialization in Mongolia. 

The research and analysis effort of the two universities will focus on the development of the quality of the products processed by the metal powder plant established in Mongolia, which is a strong impetus for the university-industry cooperation to a new level, said D. Tsolmonbaatar, Director of the Research and Technology Department of MUST. 

Prime Minister of Mongolia, Oyun-Erdene Luvsannamsrai, visited South Korea in February and held negotiations to enhance cooperation with economic content and increase trade and investment. Executive Director of Steppe Metal Powder LLC said, “in this sense, I feel that the South Korean businesses and institutions are favorable and interested in developing the cooperation. I am happy to cooperate with the top materials science university in South Korea when the company is focusing on increasing its competitiveness in the overseas market. 

The day after the signing of the MoU, Dr. Sung-Soo Won, President of Kongju National University, and Dean of the School of Engineering, Dr. Keum-chul Yang, received and met the representatives of MUST and business delegates from Mongolia and expressed their active support for cooperation between the parties.