Korean influencer dies in fall at Mongolian volcano www.chosun.com

A fatal accident occurred in Mongolia’s representative volcanic tourist site, where a famous South Korean travel influencer fell to her death.
The Ministry of Foreign Affairs announced on the 7th that Ms. A, a woman in her 20s, died in a fall at the Uran Togoo Volcano in Bulgan Province, Mongolia, on the 28th of last month.
Ms. A, who had approximately 90,000 followers and primarily operated through Instagram, was reported to have been on a business trip to northern Mongolia when the incident occurred.
A source from the Ministry of Foreign Affairs told TV Chosun, “Ms. A is presumed to have lost her balance and fallen while taking photos atop the volcano due to sudden strong winds, resulting in her death. We are investigating the exact circumstances in cooperation with local authorities.”
The Uran Togoo Volcano stands approximately 1,680 meters above sea level, with a crater diameter of 500–600 meters and a depth of 50–60 meters. The crater interior features grasslands and small ponds, and its unique terrain and geological value make it one of Mongolia’s representative volcanic tourist sites. Currently a dormant volcano, it is known as a trekking destination near the Khovsgol region, which attracts many South Korean tourists.

MoU Signed with the Financial Services Authority of Kazakhstan www.montsame.mn

Chairman of the State Great Khural of Mongolia Amarbayasgalan Dashzegve and accompanying parliamentary delegation are paying an official visit to the Republic of Kazakhstan from September 4 to 7, 2025.
Within the framework of the visit, which aims to maintain the frequency of high-level exchanges, strengthen mutual trust, enrich the legal foundation of relations, and deepen cooperation at the national and regional levels, Chairman of the Financial Regulatory Commission (FRC) of Mongolia Jambaajamts Tundev and Chairwoman of the Astana Financial Services Authority (AFSA) of the Republic of Kazakhstan Evgeniya Bogdanova signed a Memorandum of Understanding.
The MoU provides for the exchange of information on cross-border financial activities and technical cooperation targeting companies offering fintech-based virtual asset services. The two sides will also collaborate in supporting safe and reliable operations of capital market, insurance, and fintech institutions, extending mutual assistance in financial supervision, and strengthening institutional capacity.
The Memorandum signed between the Financial Regulatory Commission of Mongolia and the Astana International Financial Centre marks a major step toward intensifying bilateral trade and economic cooperation, expanding business sector linkages, and consolidating ties.
The Astana Financial Services Authority is a member of the International Organization of Securities Commissions (IOSCO) and has established bilateral memorandums of cooperation with more than 40 financial regulatory bodies worldwide, working together in the field of financial supervision.

PM Zandanshatar Meets President Putin at the Eastern Economic Forum in Vladivostok www.montsame.mn

Prime Minister of Mongolia, Zandanshatar Gombojav, held official talks with President of the Russian Federation Vladimir Putin on September 5, 2025, during the 10th Eastern Economic Forum in Vladivostok. 
President Vladimir Putin opened the official talks by underscoring his expectation that the participation of the Mongolian delegation in the Eastern Economic Forum would foster more active cooperation with Russia and other partner countries in the Asia-Pacific region. The volume of trade turnover between Mongolia and Russia increased by more than 17 percent compared to 2024, reflecting the increasing scale of bilateral cooperation. In addition, during a trilateral meeting in Beijing with the Heads of State of Mongolia and the People’s Republic of China, the leaders discussed cooperation in energy and infrastructure, agreed to advance major joint projects, and reaffirmed the strategic importance of Russia’s partnership with Mongolia, a neighboring and trusted ally.
Prime Minister Zandanshatar expressed his sincere gratitude to President Putin for supporting the construction of the Power of Siberia 2 gas pipeline through Mongolia and emphasizing the strategic significance for the region. Premier acknowledged that projects of such importance arise less than once in a century, referencing his discussion with Alexei Miller, Chairman of the Board of Directors of Gazprom, and drew upon the renowned Russian scientist Mikhail Lomonosov, recalling his words, “Russian power will grow with Siberia”.
PM Zandanshatar also highlighted the joint commemoration of the 85th anniversary of the Victory of Khalkh Gol in 2024, the 80th anniversary of the Victory in World War II, noting that these historic triumphs represent shared victories of Mongolia and Russia.

Governor-General of the Commonwealth of Australia Samantha Mostyn Arrives for State Visit www.montsame.mn

At the invitation of President of Mongolia Khurelsukh Ukhnaa, Governor-General of the Commonwealth of Australia Samantha Joy Mostyn arrived in Mongolia on September 4, 2025, with a State Visit.
Governor-General Samantha Mostyn and her husband, Simeon Beckett, were received at Chinggis Khaan International Airport by Minister of Foreign Affairs Battsetseg Batmunkh and Ambassador Extraordinary and Plenipotentiary of Australia to Mongolia, Leo Zeng.
This marks the first visit of the Governor-General of Australia to Mongolia in 31 years. The visit is of significant importance to further expand and strengthen relations and cooperation with Australia, Mongolia’s key partner and Third Neighbour in the Indo-Pacific region.
During the visit, President Khurelsukh Ukhnaa and Governor-General Samantha Mostyn will hold official talks to confirm the agreement to elevate bilateral relations to the level of a “Comprehensive Partnership.” The two sides will exchange views on expanding cooperation in potential sectors such as politics, trade, investment, education, and agriculture, enhancing people-to-people ties, and deepening collaboration on regional and international platforms.
In addition, Governor-General Samantha Mostyn will review the implementation of Australian projects and programmes in Mongolia and meet with representatives of the business community.
Mongolia and Australia established diplomatic relations on September 15, 1972. Today, more than 22,000 Mongolian citizens reside in Australia.

Lee, Mongolian president agree to bolster bilateral ties in phone talks www.koreatimes.co.kr

President Lee Jae Myung spoke by phone with Mongolian President Ukhnaa Khurelsukh on Thursday and discussed ways to further strengthen their strategic partnership, Lee's office said.
In their first conversation since Lee took office, the two leaders agreed to expand people-to-people exchanges and maintain close communication to deepen bilateral ties, presidential spokesperson Kang Yu-jung said in a written briefing.
Lee proposed "mutually beneficial" cooperation between Mongolia, rich in natural resources, and South Korea, which possesses advanced technologies, Kang said.
He also welcomed the opening of a memorial hall in Mongolia honoring Lee Tae-joon (1883-1921), a Korean independence activist who served as the physician to Mongolia's last khan, and expressed appreciation for the Mongolian government's support.
Khurelsukh, in turn, expressed gratitude for Lee's attention to migrant workers in South Korea, including those from Mongolia, according to Kang.

Kazakhstan, Mongolia strengthen interparliamentary ties with new memorandum of cooperation www.qazinform.com

A delegation of the State Great Khural (Parliament) of Mongolia led by its Chairman Dashzegve Amarbayasgalan has visited Majilis, the lower chamber of the Kazakh Parliament, Kazinform News Agency reports.
At a meeting with the Majilis Speaker Erlan Koshanov, the sides discussed the issues of strengthening interparliamentary ties and signed a memorandum of cooperation.
Welcoming the high-profile guest, Koshanov said that Kazakhstan had always viewed Mongolia as an important partner in Asia. The country’s leadership and the people of Kazakhstan support political and economic as well as social reforms carried out on the initiative of Mongolian President Ukhnaagiin Khürelsükh.
Koshanov hailed rapid development of the Kazakh-Mongolian bilateral relations, highlighting fruitfulness of the Kazakh President’s last year visit to Mongolia.
“Thanks to the two countries’ leaders, our bilateral ties have moved to the level of strategic partnership, with 11 documents signed in various spheres. I am confident that the memorandum of cooperation between our parliaments, which we will sign today, will raise our partnership to a new level,” the Majilis Speaker said.
Speaking on Constitutional reforms and transformations taking place in Kazakhstan since 2022, Erlan Koshanov pointed out similarity of the two countries. Last year, elections to the State Khural were held in a mixed electoral system, with the representatives of five parties included into the composition of the Parliament.
The heads of parliaments also touched upon the issues of strengthening cooperation among parties and further work on such multilateral platforms, as the Interparliamentary Union and the OSCE Parliamentary Assembly.
For his part, Chairman of the State Great Khural noted enormous mutual interest in exchange of law-making experience in digitalization, AI development, ecology and agriculture.
“Kazakhstan is the first strategic partner of Mongolia in Central Asia. Today’s meeting focuses not only on interparliamentary relations. The agenda includes discussions on the development of interaction in political-economic, cultural-humanitarian and other spheres,” Dashzegve Amarbayasgalan said.
The parliamentarians also discussed the potential for the expansion of partnership in tourism, personnel training and technology development.
The meeting ended with signing a memorandum of cooperation between the Majilis of the Kazakh Parliament and the State Great Khural of Mongolia. As per the document, the parties undertake, within the framework of their competencies, to contribute to the strengthening and development of cooperation between the Republic of Kazakhstan and Mongolia in political, trade and economic, scientific and technical, socio-cultural, humanitarian and other spheres, as well as in the field of digitalization of economy, development and implementation of innovations. Besides, a memorandum of establishment of twin-city relations between the East Kazakhstan region and Khovd Province was signed.
The Mongolian delegation is also set to visit the Astana International Financial Center, KAZAKH INVEST National Company, Situation Center of the Ministry of Digital Development, Innovations and Aerospace Industry, Kazakhstan Garysh Sapary National Company and other institutions.  
Earlier it was reported that the Speaker of the State Great Khural (Parliament) of Mongolia, Amarbayasgalan Dashzegve, is set to pay official visit to Kazakhstan from September 4 to 7, 2025.
BY
Arailym Temirgaliyeva

Total Assets of Banking Sector Rise by 15 Percent www.montsame.mn

Mongolia's banking sector remains relatively stable and continues to grow, with total assets increasing by 15 percent compared to the same period last year.
During the presentation of the Banking Sector’s Semi-Annual Review for 2025, Executive Director of the Mongolian Bankers Association, Amar Lkhagvasuren, highlighted that bank-issued loans continue to play a significant role in supporting economic recovery.
Moreover, newly issued loans to businesses have increased by 19 percent year-over-year. As a result, the share of non-performing business loans has declined, and both individuals and enterprises have begun shifting their funds into term deposits. Despite the depreciation of the Mongolian tugrug, public confidence in the national currency remains strong, which has contributed to a 15 percent increase in tugrug-denominated deposits.
Mongolia’s economy grew by 5.6 percent in the first half of this year. The agricultural sector has demonstrated a strong recovery, becoming the primary driver of economic growth. In contrast, the mining sector performed below expectations, which negatively impacted related sectors such as trade and transportation, thereby slowing overall growth. Additionally, the decline in commodity prices has led to a reduction in export volumes, placing pressure on the national currency.
Revenue from taxes on mining products has decreased by 12.3 percent, contributing to a decline in overall budget revenues. Recurrent expenditures continue to account for the majority of total government spending, and the fiscal balance currently shows a deficit of MNT 758 billion.
Senior Economist at the Banking and Finance Academy, Sosorbaram Chingel, emphasized, “When formulating the state budget, it is essential to carefully assess both internal and external risk factors, ensure coherence between fiscal and monetary policies, and support the real economy. Otherwise, we risk creating a system in which the recovery of one sector leads to the decline of others.”

Zandanshatar Gombojav: Eurasian Market Open to Mongolia’s Agricultural Sector www.montsame.mn

“The Eurasian market, with a population of 183 million, is open to Mongolia’s agricultural sector. We have the opportunity to introduce our products there. The agricultural sector must continue to shoulder a significant share of the economic burden,” highlighted Prime Minister of Mongolia Zandanshatar Gombojav during his visit to Darkhan-Uul aimag, where he reviewed the operations of the Ministry of Food, Agriculture and Light Industry (MoFALI) and its affiliated agencies and met with officials.
Head of the Department for Coordination and Implementation of Crop Farming Policy of the MoFALI, D. Yesun-Erdene, noted that working capital and investment loans have been provided through commercial banks for crop production, food processing, and livestock farming. He added, “With the Government’s decision to subsidize 10 percent interest rates, a model integrating crop production and livestock farming has been created to develop food and agriculture into a backbone sector of the economy.”
Head of the Light Industry Policy Implementation Coordination Department, M. Dondogdorj, underlined that concessional loans are being extended to increase capacity and support the operations of wool, cashmere, and leather processing industries. “Within the framework of the ‘White Gold’ national movement, 6,000 tons of cashmere have been procured, enabling domestic producers to process about 70 percent of total raw materials. As a result, the production capacity of the wool, cashmere, and leather industries has doubled,” he emphasized.
Within the framework of the “Food Revolution” national movement, more than 2,525 individuals and enterprises engaged in crop production, livestock farming, and food processing industries have received concessional loans amounting to MNT 1.26 trillion. Consequently, 25 new food processing plants have been commissioned, 22 have been expanded, and 22 have upgraded their equipment. Last year, storage capacity increased by 15 percent, threshing facilities by 7 percent, and cultivated land by 13 percent. As a result of the program, producers have expanded their product range by 37 percent and created about 2,500 new jobs.
Prime Minister Zandanshatar underlined that relocating MoFALI to Darkhan-Uul aimag has proven to be a correct decision. He added, “Livestock farming, crop production, and small and medium enterprises must develop in an integrated manner. Agriculture played a key role in Mongolia’s 5.6 percent economic growth in the first half of this year. Since the agricultural sector generates the most employment, diversifying and further developing it will remain a priority goal of the Government.”

Digitized nomads: Lessons we can learn from Mongolia’s nomadic herders in the age of AI www.weforum.org

A circle of gers – traditional Mongolian yurts – dots the golden steppe, a vast grassland stretching endlessly beneath a cloudless sky. Camels graze nearby, each recognized by name, their silhouettes shifting in the early morning light. In this boundless landscape, where wind is constant and seasons arrive without warning, life is lived in motion – shaped by instinct, tradition and a deep respect for nature.
This way of life may seem worlds apart from the digital revolution. Yet, as artificial intelligence (AI) reshapes global society, the philosophy and practices of Mongolia’s nomadic herders offer unexpected lessons in adaptability, community and sustainability.
According to the BBC, approximately 40% of Mongolians live nomadic lifestyles – an extraordinary statistic in an increasingly urbanized and digitally-focused world. Nomadism in Mongolia is characterized by mobility, adaptability and a harmonious relationship with nature.
Mongolia is now actively embracing digital transformation through the launch of the AI Academy Asia’s National AI Campaign, a bold initiative to train teachers and software engineers, bridging the digital divide and preparing Mongolians to thrive in an AI-powered world.
The campaign aims to train 250 AI engineers and 2,250 teachers from all 21 aimags (provinces) in Mongolia by 2029.
The Girls AI programme has trained 150 girls and is now training 100 female teachers and 100 girls from the most disadvantaged communities of Mongolia in collaboration with Golomt Bank, which has already been actioning a digital inclusion initiative across Mongolia in the past 30 years.
This commitment to digital inclusion is especially relevant for Mongolia’s nomadic herders and rural pastoralists, who are already experimenting with drones, sensors and other advanced digital tools to monitor herd health, access weather data and optimize land use. What if the wisdom of nomads could shape how we build, deploy and govern AI?
Here are three lessons from Mongolia’s steppe that can inspire our approach to governing AI.
Lessons for Mongolia’s digital transformation
1. Resilience in the face of volatility
Nomads adapt in real time to volatile weather, shifting grazing conditions and the uncertainty of seasonal migrations. This mindset offers valuable lessons for AI governance. Technology evolves at a breakneck pace and so too must our policies.
The European Union’s AI Act is one early model of this adaptive governance. This legislation categorizes technologies based on risk and requires high-risk AI systems to meet strict transparency, safety and ethical standards.
Importantly, it is intentionally designed to be broad and evolve in tandem with the technology itself. When institutions can pivot swiftly, they can better anticipate change and manage the disruptions of the AI era.
Just as nomads don’t expect stability but prepare for volatility, our digital systems must be built not only for security but for agility and responsiveness.
2. Community as infrastructure
Mongolian nomads are not only hospitable out of kindness but because it helps them survive as a community. Often at the mercy of nature, families share resources, tend to each other’s livestock in times of illness or absence and pass down oral knowledge that reinforces communal responsibility.
This ethos should inspire how we design and govern AI. Digital infrastructure must not reinforce existing divides between those with access and those without. Just as herder communities ensure no person or animal is left behind, AI must be inclusive by design.
Like nomadic communities, our technological systems must embody a spirit of collective responsibility – not just optimizing for speed or efficiency but ensuring no one is left behind.
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The future of AI should not only be technically sophisticated but it must also be culturally grounded, ecologically sustainable and human-centred.
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3. Environmental harmony
As AI scales globally, we must confront its growing energy and resource demands. Training a single language model can require vast amounts of energy, resulting in increased carbon emissions and pressure on electric grids.
The environmental cost of AI isn’t abstract. In Memphis, Tennessee, Elon Musk’s Grok data facility has drawn scrutiny for tapping into the Memphis Sand aquifer, a vital freshwater source and using gas-powered turbines, raising alarm among residents about water depletion and environmental justice.
Nomadic life is inseparable from the rhythms and limits of the natural world. Survival depends on listening to the land, not extracting from it. This philosophy should also guide the future of AI.
AI development must learn to do the same – aligning innovation with stewardship and using technology to restore rather than deplete the ecosystems we rely on.
Mongolia’s model: Tradition meets innovation
As an article in the Harvard Business Review recently noted, “AI won’t replace humans – but humans with AI will replace humans without AI.”
This quote underscores a pressing global risk: digital exclusion. Without intervention, entire groups risk being left behind. This mirrors the displacement of traditional farming knowledge during the Green Revolution, when top-down modernization erased centuries of ecological wisdom. Without digital inclusion, the AI revolution may repeat this history.
Mongolia is taking a different path. The National AI Campaign is more than a technical upskilling programme – it’s a human-centred, ethically grounded movement.
It embeds data, coding, ethics, digital literacy and equity into its curriculum and seeks to ensure that no community, no matter how remote, is left behind. This is a powerful blueprint for other emerging economies to co-lead in shaping ethical and inclusive AI.
In an interview with the academy, Cambridge University researcher Ander Biguri notes that “AI has the potential to be uniquely democratizing,” because the quality of the technology is the same whether you’re in the United Kingdom or the remotest regions of the Gobi Desert, as long as you have an internet connection.
This levels the playing field for nations like Mongolia, presenting a rare opportunity to leapfrog into leading a global digital transformation.
Holistic path of AI
The future of AI should not only be technically sophisticated but it must also be culturally grounded, ecologically sustainable and human-centred.
By learning from Mongolia’s nomadic heritage, we can reimagine a digital future that doesn’t sever us from tradition but strengthens our collective resilience, interdependence and harmony with the environment.
To navigate the AI era wisely, we must listen to those who have long thrived in the face of uncertainty so that we can adapt with integrity.

Speaker Amarbayasgalan to Visit Kazakhstan www.montsame.mn