Mongolia, which has a long border with China and offers important road and rail links to Russia and beyond, is set to become an important transportation “bridge” between Asia and Europe. Freight between China and Russia as well as China and Europe passing through Mongolia is set to rise as the route is considered by many as the most economically efficient route.

China aims to increase the volume of trade with Europe to USD 1 trillion by 2020 and to Russia to USD 200 billion. In this connection, China needs to secure faster trade routes. Container shipments travelling by sea are two to three times slower than by rail. China is, therefore focusing on developing rail and road transit between to and from Europe.

Lee is currently on trial for bribery, embezzlement and other charges amid a corruption scandal that led to the ouster and arrest of President Park Geun-hye. He became a board member in October as part of a broader initiative to improve corporate governance for the smartphones-to-biopharmaceuticals business empire, and his salary was published alongside other members.

The compensation disclosure, made via a regulatory filing, only applies for payments Lee received following his appointment to the board, and Samsung declined to comment on how much he was paid prior to the appointment - including whether he made more or less in preceding quarters than what was disclosed for the fourth quarter.

The 48-year-old executive's compensation package includes 476 million won in wages equivalent to three months' pay from October through December. A Samsung spokeswoman told Reuters that Lee chose not to receive any pay from Samsung Electronics following his Feb. 17 arrest.

South Korean companies are required to disclose compensation for executives who sit on the board and are paid at least 500 million won on an annual basis.

Chief Executive Kwon Oh-hyun was the top earner among the executives who sit on the board with a total compensation of 6.698 billion won. That compared with Apple Inc (AAPL.O) counterpart Tim Cook's 2016 compensation of $8.7 million.

Asia stocks down, dollar posts gains on positive U.S. data
U.S. economic growth revised higher, boosted by consumer spending
The compensation disclosed by Samsung is a very small fraction of Lee's net worth. According to Forbes, Lee is South Korea's third-richest person with $6.4 billion in total wealth that is mostly based on his stakes in Samsung affiliates such as Samsung C&T Corp (028260.KS) and Samsung Electronics Co Ltd (005930.KS).

Co-Chief Executive Shin Jong-kyun, who overseas the company's mobile and network businesses, saw his 2016 compensation fall to 3.986 billion won from 4.8 billion won a year earlier. The businesses under his remit oversaw the costly collapse of the fire-prone Galaxy Note 7 smartphones in October.

The project is developed by Sainshand Salkhin Park LLC, a special purpose limited liability company owned by French energy major Engie, the IFU, Ferrostaal Industrial Projects and a local partner. The total project cost is estimated at USD 120 million.

The project envisages erecting 25 wind turbines on government-owned land to the southeast of Sainshand city, in the Gobi region of Mongolia.

The EBRD said that this project will help Mongolia diversify its coal-dependent power sector and cut carbon dioxide (CO2) emissions by up to 5 million tonnes over its lifetime. It will also see a new private entrant in the local power sector, where assets are almost entirely state-owned.

The bank backed the Salkhit and Tsetsii wind projects in Mongolia in 2012 and 2016, respectively.