On February 28, 2023, the Center for Korea and Mongolia Development opened at the University of Finance and Economics (UFE) in Ulaanbaatar, Mongolia. The opening ceremony was attended and celebrated by many people including Mr Amarjargal. R, chairman of the Board of Trustees, vice-presidents and professors, and also representative from the Embassy of the Republic of Korea in Mongolia, and the Mongolian Korean Association.

Dr. Hyun-Chin Lim, a keynote speaker, who is a professor emeritus of the department of sociology and founding director of the Asia Center at Seoul National University addressed the expectations and roles of the center through the message “Northeast Asia amid New Cold War: The Future of Korea and Mongolia Relations.” 

Dr. Kim Young-Rae, a professor at the Graduate School of UFE and also the first director of the center expressed the strategic mutual complementarity of Korea and Mongolia and the potential for future development of the two countries. He sets up the vision of the center as a knowledge creation and sharing platform for Korea and Mongolia development. In this line the center will develop joint research projects, knowledge sharing programs, and professional educational programs in cooperation with Korean partners. To achieve this goal, the center will work with research institutes and universities in Korea, Korean community experts in Mongolia, and related research institutes in Mongolia.