On January 13, 2025, Ms. Narantuya Zagdkhuu, CEO of the Development Bank of Mongolia (DBM), visited the headquarters of Korea Asset Management Corporation (KAMCO) in Busan. This meeting was organized in response to DBM's active request to share KAMCO’s experience and expertise in resolving non-performing loans (NPLs) and to explore potential collaboration in managing DBM’s NPL portfolio. In particular, the two sides reflected on KAMCO’s consulting project titled "the Recovery of the Mongolian Banking Sector and Financial Stability Enhancement,” conducted from October 2017 to June 2020, as a throwback to KAMCO's efforts in supporting the development of Mongolia’s financial stability. This served as an opportunity to affirm their commitment to actively cooperating in establishing a solid foundation for the efficient resolution of NPLs in Mongolia, including the drafting of legislation for the establishment of an Asset Management Company (AMC). Lastly, during a tea meeting with Mr. Nam-Ju Kwon, Chairman & CEO of KAMCO, both parties reaffirmed their intention to maintain and strengthen ongoing cooperation.
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