On September 9, 2024, the Deposit Insurance Corporation of Mongolia renewed its Memorandum of Understanding with the Korea Deposit Insurance Corporation (KDIC) in Seoul, South Korea.
The Memorandum of Understanding (MoU) is valid for five years, with the initial MoU established in 2014, marking the beginning of a successful cooperation. Over the past 10 years, numerous initiatives have been implemented aimed at accelerating the development of the deposit insurance system. The Deposit Insurance Corporation of Mongolia has participated in South Korea's government-funded Knowledge Sharing Program, as well as the Insurance Reimbursement Software and Technical Assistance ISP Program. These programs facilitated ongoing advisory services, conferences, and meetings on an annual basis.
During the MoU signing event, a traditional Mongolian ger was erected at KDIC’s Global Training Center, which serves to promote Mongolia’s rich heritage and culture. This training center hosts professionals from deposit insurance organizations of over 50 countries each year.
