Hwang Ki-yeon (standing at left), president of Korea Eximbank, and Orkhon Onon (standing at right), CEO of Mongolia's Trade and Development Bank, pose for a photo with South Korean President Lee Jae Myung (seated at left) and Mongolian President Ukhnaa Khurelsukh after a signing ceremony during the Korea-Mongolia Business Forum in Ulaanbaatar on Thursday. (Korea Eximbank) The Export-Import Bank of Korea said Friday it signed a memorandum of understanding with Mongolia's Trade and Development Bank to provide $30 million in on-lending financing aimed at supporting exports of Korean consumer goods.The agreement is designed to channel policy financing through TDB, which operates more than 90 branches and serves a large number of importers of Korean food, cosmetics and other consumer products.The financing marks Korea Eximbank's first on-lending support for Mongolia since 2017, when assistance was suspended following the country's foreign exchange crisis.Korea Eximbank said the program will help strengthen the export competitiveness of Korean companies in Mongolia while easing financing difficulties for Korean businesses operating in the country.The state-run lender plans to use TDB's nationwide network to deliver financing quickly and support the expansion of Korean small and medium-sized enterprises and mid-sized companies into the Mongolian market.Korea Eximbank currently operates about $8 billion in on-lending credit lines through 24 partner banks in 10 countries. The bank said it plans to broaden its support beyond traditional export sectors such as automobiles and electronics to include a wider range of Korean culture-related industries."Mongolia is not only one of the world's top resource-rich countries but also a strategic gateway connecting Central Asia and Northeast Asia," said Hwang Ki-yeon, president of Korea Eximbank."Through this on-lending facility, we expect to promote exports of Korean products while contributing to more diversified bilateral trade, including imports of critical minerals."He added that the bank will continue providing policy financing to strengthen the export competitiveness of Korean consumer goods companies, particularly as Korean retail and franchise brands continue to expand their presence in Mongolia.