Mongolia has doubled the contract work quota for South Korea.
Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Mongolia, Choi Jin-won, mentioned during the meeting at the State House that the visa issuance period of the Republic of Korea has been reduced from 60 days to 25 days, and the quota for employment under contract has been increased from 2,000 to 4,000.
Mr. Choi also talked about the need to intensify the work of establishing an economic partnership agreement between the two countries. The parties emphasized that the increasing number of tourists coming from South Korea to Mongolia within the framework of the program implemented by the Government of Mongolia has a certain positive effect on the culture, sports, tourism, education, and banking sectors of Mongolia.
What does this mean to the current state of the Mongolian labor market? is this concerning news?, well in the short term the local labor shortage will increase while in the long run, skilled (experienced) workers will eventually return home and import the know-how and strong work ethic gained from Korea.