Mongolia Central Bank Governor Visits the College of Economics, Discusses Academic Exchange and Collaboration, and Addresses Economic Issues in Both Countries

- Visited Sungkyunkwan University on October 6th (Friday)

Lkhagvasuren Byadran, the Governor of the Mongolia Central Bank, visited our College of Economics to discuss academic exchange and collaboration opportunities with Dean Sunghyun Kim. In particular, Dean Sunghyun Kim and the Governor of the Mongolia Central Bank agreed to send personnel to the College of Economics to create opportunities for learning recent economic theories and analytical methodologies. They exchanged ideas about how to implement this.

In relation to this, Professor Soosung Hwang of Sungkyunkwan University explained the Quantitative Applied Economics program within the College of Economics. The Governor of the Mongolia Central Bank showed a keen interest in this and introduced the head of the training department of their staff. He mentioned that they would provide sufficient support if the dispatch program goes forward.

Additionally, Dean Kim had in-depth discussions with the Governor of the Mongolia Central Bank about the current economic situation and major issues in both South Korea and Mongolia. Among these discussions, the Governor of the Mongolia Central Bank explained the recent high inflation in Mongolia and the rapid depreciation of the Mongolian currency, the Tugrik. Dean Sunghyun Kim and Professor Soosung Hwang conveyed their opinions on South Korea's historical experience and policy priorities regarding these issues.

Currently, the Mongolia Central Bank is conducting joint research on the development of Mongolia's foreign exchange market as part of the Knowledge Partnership Program (KPP) led by Professor Seungduck Lee in the College of Economics. This visit is part of this cooperative program. Our College of Economics conducted joint research with the Mongolia Central Bank and the KPP in 2019 and 2020 and has maintained a long-term cooperative relationship with the Mongolia Central Bank.