S. Korea helps Mongolia build cultural heritage conservation program www.koreaherald.com

Education Minister Choi Kyo-jin visited the Mongolian University of Science and Technology on July 10 to review the progress of a higher education cooperation project aimed at training specialists in cultural heritage conservation.

According to the Education Ministry on Thursday, Choi inspected the facilities, established under Korea's Leading University Project for International Cooperation, together with his Mongolian counterpart.

The two ministers toured conservation treatment and analysis facilities, digital documentation laboratories and a cultural heritage conservation education center. They also discussed how the program could become self-sustaining after the Korean-backed project ends and ways to expand higher education cooperation between the two countries.

The initiative is part of South Korea’s official development assistance program for higher education, under which Korean universities support universities in developing countries with the creation or restructuring of academic departments, curriculum development and faculty training.

Kongju National University has worked with the Mongolian University of Science and Technology since 2020 to train professionals in cultural heritage conservation.

Under the project, Mongolia’s first Department of Tangible Cultural Heritage Conservation Technology was established at the university in December 2022.

Kongju National University helped develop the department’s curriculum based on its experience in Korea, produce Mongolian-language textbooks, improve laboratory facilities and administer field training programs.

A total of 51 undergraduate students have enrolled in the department so far, with the first class expected to graduate in May 2027. Graduates are expected to pursue careers at museums, cultural heritage centers and archaeological research institutions.

In 2023, the department was included among professional fields identified by Mongolia’s Education and Science Ministry as necessary for future education, according to the Korean ministry.

The project has also established a Cultural Heritage Conservation Education Center linking undergraduate education with professional training in the field.

The Korean government has also supported faculty development through the Global Korea Scholarship program.

A Mongolian faculty member earned a doctorate in digital cultural heritage at Kongju National University through the scholarship program and is expected to help lead the department and the conservation education center.

The ministry said the program is gradually shifting from a system led by Korean experts dispatched to Mongolia to one operated by locally trained faculty.

“The significance of the project lies in helping partner universities develop the capacity to conduct education and research independently,” Choi said.

There Are Some Reasons To Suggest That Mongolia Energy's (HKG:276) Earnings Are A Poor Reflection Of Profitability www.simplywall.st

Shareholders were pleased with the recent earnings report from Mongolia Energy Corporation Limited (HKG:276). Investors should be cautious however, as there some causes of concern deeper in the numbers.

Zooming In On Mongolia Energy's Earnings

Many investors haven't heard of the accrual ratio from cashflow, but it is actually a useful measure of how well a company's profit is backed up by free cash flow (FCF) during a given period. To get the accrual ratio we first subtract FCF from profit for a period, and then divide that number by the average operating assets for the period. You could think of the accrual ratio from cashflow as the 'non-FCF profit ratio'.

Therefore, it's actually considered a good thing when a company has a negative accrual ratio, but a bad thing if its accrual ratio is positive. While it's not a problem to have a positive accrual ratio, indicating a certain level of non-cash profits, a high accrual ratio is arguably a bad thing, because it indicates paper profits are not matched by cash flow. That's because some academic studies have suggested that high accruals ratios tend to lead to lower profit or less profit growth.

Over the twelve months to March 2026, Mongolia Energy recorded an accrual ratio of 0.35. Unfortunately, that means its free cash flow was a lot less than its statutory profit, which makes us doubt the utility of profit as a guide. Even though it reported a profit of HK$472.0m, a look at free cash flow indicates it actually burnt through HK$18m in the last year. We saw that FCF was HK$200m a year ago though, so Mongolia Energy has at least been able to generate positive FCF in the past. However, that's not all there is to consider. We can see that unusual items have impacted its statutory profit, and therefore the accrual ratio. The good news for shareholders is that Mongolia Energy's accrual ratio was much better last year, so this year's poor reading might simply be a case of a short term mismatch between profit and FCF. Shareholders should look for improved cashflow relative to profit in the current year, if that is indeed the case.

The Impact Of Unusual Items On Profit

Given the accrual ratio, it's not overly surprising that Mongolia Energy's profit was boosted by unusual items worth HK$262m in the last twelve months. While it's always nice to have higher profit, a large contribution from unusual items sometimes dampens our enthusiasm. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that Mongolia Energy's positive unusual items were quite significant relative to its profit in the year to March 2026. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.

Our Take On Mongolia Energy's Profit Performance

Mongolia Energy had a weak accrual ratio, but its profit did receive a boost from unusual items. For the reasons mentioned above, we think that a perfunctory glance at Mongolia Energy's statutory profits might make it look better than it really is on an underlying level. If you'd like to know more about Mongolia Energy as a business, it's important to be aware of any risks it's facing. Be aware that Mongolia Energy is showing 4 warning signs in our investment analysis and 3 of those are concerning...

Our examination of Mongolia Energy has focussed on certain factors that can make its earnings look better than they are. And, on that basis, we are somewhat skeptical. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. 

Protection Zones to Be Established for Cemetery Complexes of the Hunnu Nobility www.montsame.mn

Minister of Culture, Sports, Tourism, and Youth Aldarjavkhlan Jukov presented the outcomes of the 48th Session of the World Heritage Committee, held in Busan, Republic of Korea, during today's Cabinet meeting.

Mongolia participated in this session, held from July 20 to 29, 2026, for the first time as a member state of the Committee. The Mongolian delegation was led by Minister Aldarjavkhlan and included Ambassador of Mongolia to the French Republic, Munkh-Orgil Tsend, along with representatives from the Ministry of Environment and Climate Change, the Ministry of Foreign Affairs, the Ministry of Culture, Sports, Tourism, and Youth, relevant government and non-governmental organizations, and national experts.

During the session, Mongolia successfully nominated and inscribed the cultural property "The Cemetery Complexes of the Hunnu Nobility" onto the UNESCO World Heritage List under the 1972 Convention Concerning the Protection of the World Cultural and Natural Heritage. Mongolia previously had six properties inscribed on the World Cultural Heritage List.

Following the inscription, the Government of Mongolia decided to establish state protection zones encompassing the newly inscribed Cemetery Complexes of the Hunnu Nobility located in Mankhan soum of Khovd aimag, Undur-Ulaan soum of Arkhangai Aimag, Bornuur, Batsumber, and Bayantsagaan soums of Tuv aimag, and Bayan-Adarga soum of Khentii aimag. Beyond securing the core heritage sites, official boundary lines for surrounding buffer zones will be designated, strictly prohibiting any land allocation within these protected areas.

In compliance with UNESCO requirements, the Cabinet resolved to finalize and approve an "Integrated Management Plan" covering protection, restoration, and scientific research over the next 5 to 10 years. Furthermore, Minister Aldarjavkhlan was instructed to ensure the regular submission of progress reports, provide necessary funding and access for experts from UNESCO's advisory body, ICOMOS (International Council on Monuments and Sites), and raise awareness among local communities regarding the historical and cultural value of these heritage sites alongside conservation efforts.

Ministers Instructed to Advance Power Plant Projects Ahead of Winter www.montsame.mn

 During the regular session of the Cabinet today, Deputy Prime Minister Nomtoibayar Nyamtaishir briefed on winter preparations in Tuv, Arkhangai, Zavkhan, Bayankhongor, and Uvurkhangai aimags, as well as other parts of the country.

Following the briefing, Prime Minister Uchral Nyam-Osor instructed relevant ministers to address pressing issues in each aimag, with a focus on strengthening infrastructure and ensuring reliable public services before winter.

The directives include:

Upgrade power infrastructure in Arkhangai aimag, gradually replace wooden electricity transmission poles in Undur-Ulaan soum with reinforced concrete poles, and provide vehicles for several soum health centers and the aimag’s Veterinary Department.
Expand vegetable storage facilities in Tuv aimag, secure fuel supplies for the harvest season, and allocate a 30-hectare site in Hunnu City for the construction of a new combined heat and power (CHP) plant.
Ensure the uninterrupted implementation of the CHP plant project in Zavkhan aimag, allocate land for haymaking in eastern aimags, provide support for fodder supplies, and supply vehicles to several soum health centers.
Modernize the central wastewater treatment plant in Bayankhongor aimag, ensure the smooth implementation of the CHP plant project, and resolve permits for haymaking areas.
Continue construction of the CHP plant as planned in Uvurkhangai aimag, secure land in Dornod aimag for harvesting hay and fodder, and provide vehicles for several soum health centers.

Vehicle Traffic to be Regulated by Even, Odd License Plate Numbers from August 15 to September 12 www.montsame.mn

During its regular Cabinet session on July 29, 2026, a presentation was given on the capital city's winter preparations and the renovation of schools and kindergartens.

Governor of the Capital City and Mayor of Ulaanbaatar Purevdagva Byaruuzana briefed the press on the matter, highlighting the following updates:

• Winter Preparations: Winter preparation in the capital city is currently at 57 percent. Although efforts were made to avoid cutting off the hot water supply to residents this summer, maintenance and repairs were unavoidable, as 60 percent of Ulaanbaatar’s underground pipeline network has exceeded its operational lifespan.
• Road Construction: Road works are ongoing. Efforts are underway to complete 111 km of new roads and 31 km of road maintenance and repairs by August 15.
• Fuel and Food Reserves: For the upcoming winter, 280,000 tonnes of semi-coke and 120,000 tonnes of refined coal briquettes have been stockpiled. Overall, 573 projects and measures are being implemented to prepare for winter. The stockpiling of reserve meat has commenced, and requests for enterprise loans have been submitted to commercial banks for review.
• Energy Sector: The municipality is collaborating closely with the Ministry of Energy to prevent heat and electricity rationing. As part of expanding energy access, the construction of the 5th Power Plant has commenced. Additionally, the third phase of the Buuruljuut Power Plant will be commissioned next year.
• Traffic and Education: School and kindergarten renovations will be completed by August 15. Furthermore, in connection with the upcoming COP17 conference, a decision has been made to regulate vehicle traffic based on even and odd license plate numbers from August 15 through September 12.

National Guard officer admits using government travel card to support secret second wife www.stripes.com

An Army National Guard officer is awaiting punishment for using his government travel card to pay thousands of dollars in expenses for a Mongolian woman he married and brought to the U.S. while still being married to another woman. Maj. Collin L. Welch, 40, of Arlington, Va., pleaded guilty Tuesday in federal court in the District of Columbia to theft of government money and unlawfully inducing aliens to enter and remain in the United States, the Justice Department said in a statement Tuesday. He agreed to forfeit $54,000 as part of the plea, the statement said. U.S. District Judge Amir Ali scheduled his sentencing for Dec. 3. Currently a member of the D.C. National Guard, Welch previously served with its Alaska counterpart and deployed to Afghanistan and Djibouti. He began a relationship with the woman in 2019 while on assignment at the U.S. Embassy in Ulaanbaatar, Mongolia, prosecutors said. He was still married to the mother of his children at the time, court records said. His wife, who had moved with him and their family to Mongolia, returned to Alaska for medical reasons that year, according to court filings. The romance with the Mongolian woman and Welch’s pattern of deception continued for years, even after his embassy assignment had ended, prosecutors said. After Welch returned to Alaska in 2021, the Mongolian woman visited him, and he used a fabricated divorce decree to convince her that he was no longer married. He traveled to Mongolia and married her the following year, according to the Justice Department. Welch and his original family transferred to the D.C. area in 2023, but he made video calls to the Mongolian woman from hotel rooms, often paid for with unauthorized charges to his government travel card, to hide that he was still married and living with his family, the court records said. Welch was serving with the D.C. National Guard’s State Partnership Program, which coordinates military-to-military engagements with foreign forces and often requires members to travel for official purposes. But prosecutors said he also lied to get permission for trips with unofficial purposes and used a government computer to create fake receipts to justify unauthorized charges on his government travel card. He used that card to pay for the woman and her daughter to fly to the U.S. in 2024 before marrying the woman again in Virginia. When their tourist visas expired, he continued to house and support them, providing fake documents to convince them that they had been granted permanent residency and issued Social Security numbers. Later that year, the undocumented dependents were evicted from an apartment that Welch had leased for them, after they failed to pay rent and he tried to pay with forged checks. He continued to support them through March 2026. Welch’s attorney, Gregory P. Rosen, did not dispute the details in the court filing — called a statement of offense — but said the full picture would include the strains that two deployments away from family put on his client. “None of that changes the fact that Maj. Welch accepts full responsibility for his actions,” Rosen said. “That alone speaks louder about his character than any statement of offense, standing alone, ever could.” A former senior federal prosecutor, Rosen said he found the immigration charge unusual, even if it technically applied, and questioned whether financially supporting someone after they overstay their visa fell within the spirit of what Congress intended to criminalize. Welch’s plea agreement says he will likely face 10 to 16 months in prison and a fine of up to $55,000. He could qualify for a lower sentence because he has no prior criminal record. 

By CHAD GARLAND Chad is a Marine Corps veteran who covers the U.S. military in Vicenza, Italy, for Stars and Stripes. He previously covered military operations downrange in the Middle East and elsewhere. He has also reported for news outlets in Washington, D.C., Arizona, Oregon and California

CAREC secretariat briefs Commerce minister on regional trade agenda, Mongolia ministerial Conference www.app.com.pk

The Central Asia Regional Economic Cooperation (CAREC) Secretariat called on Federal Minister for Commerce Jam Kamal Khan and briefed him on key regional initiatives aimed at strengthening trade, connectivity, investment and economic integration among CAREC member countries.
CAREC secretariat briefs Commerce minister on regional trade agenda, Mongolia ministerial Conference
During the meeting, the delegation informed the Minister that the Asian Development Bank (ADB) is expected to approve a Border Connectivity and Logistics Upgrade Facility in the coming weeks to support the modernization of Pakistan’s border infrastructure and enhance regional trade and connectivity, said a release issued here on Wednesday.
The delegation also informed the Minister that Pakistan remains an active participant in implementing the Regional Trade and Investment Facilitation Partnership (CARIF) framework, which is entering its operational phase to promote trade facilitation, logistics cooperation and investment across the CAREC region.
The meeting reviewed preparations for the upcoming CAREC Ministerial Conference and Business Forum, to be held in Mongolia on 29–30 September 2026. During the meeting, the CAREC Secretariat formally invited the Federal Minister to participate in the conference, which will bring together ministers, senior government officials, development partners, international investors and private sector representatives from across the CAREC region.
The delegation informed the Minister that the Business Forum will focus on logistics, energy security, critical minerals, digital connectivity, investment opportunities and private sector collaboration.
It also shared plans to establish a Regional Chambers Alliance to strengthen business-to-business cooperation among Chambers of Commerce and Industry across the CAREC region with support from the Asian Development Bank.
The CAREC Secretariat also briefed the Minister on the ADB-supported Digital Corridor Study involving Pakistan and other CAREC member countries to enhance regional digital connectivity.
Federal Minister for Commerce Jam Kamal Khan appreciated the continued support of CAREC and the Asian Development Bank in promoting regional economic integration and reaffirmed Pakistan’s commitment to strengthening regional trade, connectivity and investment cooperation.

From Readiness to Action: Mongolia's Carbon Market Journey www.undp.org

Mongolia is entering a defining phase in its climate journey. On 2 July 2026, Parliament adopted the country's first Climate Change Law, the product of years of collaboration among government institutions, lawmakers, development partners, the private sector and civil society. This milestone comes at a pivotal moment. As Mongolia develops the enabling conditions at the national level to participate in carbon markets, accelerates its transition to cleaner energy and prepares to host the UNCCD COP17 in Ulaanbaatar from 17–28 August 2026, climate action is becoming increasingly integrated into the country's broader development agenda.

The decisions being made today on energy, land use, investment and governance will shape Mongolia’s resilience, economic competitiveness and ability to attract sustainable investments for decades to come. Mongolia’s first Climate Change Law represents a shift from fragmented climate action towards a coordinated, whole-of-government approach. It establishes a comprehensive legal framework by clarifying institutional mandates, strengthening greenhouse gas monitoring, reporting and accountability systems, guiding sectoral mitigation and adaptation planning and creating an enabling environment for climate finance.

UNDP worked alongside the Government of Mongolia to strengthen institutional capacity and provide technical support during the final stages of the legislative process. Climate legislation does not reduce greenhouse gas emissions on its own, but it provides the governance, accountability and long-term policy direction needed to mobilize public and private investment in Mongolia's low-carbon transition. 

With funding from the Green Climate Fund and support from UNDP, the Ministry of Environment and Climate Change is building the institutional, technical and regulatory foundations for a transparent and inclusive carbon market aligned with the Paris Agreement. This includes developing a national carbon registry, strengthening monitoring, reporting and verification systems, establishing operational procedures for authorizing and transferring mitigation outcomes under Article 6, and preparing a roadmap to support responsible private sector participation. These are building blocks that create the enabling conditions needed for government, investors and communities in Mongolia to trade carbon credits with confidence.

Carbon market readiness only has value if it enables real investments and delivers measurable benefits for people. In Ulaanbaatar’s Chingeltei district, coal-based household heating contributes significantly to winter air pollution, with profound impacts on air quality, public health and energy security. Through UNDP’s Solar Facility initiative, implemented since 2024 in partnership with Ulaanbaatar City and the local startup URECA, households are transitioning from coal-based heating to cleaner energy solutions that combine solar panels, battery storage, electric heating systems and smart meters. 

A small but transformative policy change helped unlock greater potential for household renewable energy. With UNDP’s support, Mongolia introduced a framework allowing households with small-scale renewable energy systems to sell surplus electricity back to the grid. With support from Parliament and the Ministry of Energy, this change transformed renewable energy from a household expense into a potential income-generating investment, while reducing emissions and improving air quality. 

This is where climate policy begins to matter in everyday life. 

Smart meters record the emissions each household avoids by not burning coal, creating the transparency needed for credible carbon credit verification. The first 68 households in the pilot have generated 392 tons of carbon credits under a Gold Standard methodology for solar heating. Revenue from selling these carbon credits will be reinvested into the Solar Facility, creating a virtuous cycle in which climate action helps finance further climate action. 

Scaling that model beyond a few hundred households will take more than carbon credits. It will take commercial lenders and financial institutions willing to underwrite clean heating at the scale of a city where nearly half the population still burns coal each winter.

Mongolia hosts UNCCD COP17 this August under the theme “Restoring Land. Restoring Hope”. The gathering will focus global attention on land restoration, drought resilience and desertification, but for the Government it is also a chance to demonstrate that climate ambition is being matched by credible institutions, practical implementation and innovative financing solutions. 

The Solar Facility illustrates what this transition can look like in practice. By reducing dependence on polluting fuels, improving household living conditions and generating verified emissions reductions, the initiative demonstrates how climate action can deliver both environmental and social benefits. During COP17, it will be showcased as an example of how enabling policies, market-based mechanisms and community-level solutions can work together to build resilience while mobilizing investment for sustainable development. Carbon credits generated through the initiative will also contribute to compensating for GHG emissions associated with the conference itself. 

Mongolia's carbon market is still young. The registry is being built, the pipeline of investable projects is thin, and most of Ulaanbaatar's ger districts still burn coal each winter. But the foundations set this year make one thing different: there is legal and institutional architecture ready to receive the investment Mongolia needs. Whether that translates into cleaner winters for the next family in Ulaanbaatar is the only measure that will matter.

Ancient irrigation system found in Mongolia sheds new light on early Turkic farming www.reuters.com

Archaeologists excavating the ancient city of Togu Balik in central Mongolia have uncovered a 14-kilometer (8.7-mile) irrigation canal, a palace complex, and evidence of wheat cultivation, noting that the findings show the settlement was an organized agricultural and manufacturing center, as well as a mining hub.

Researchers say the discoveries could push back evidence of planned agriculture among early Turkic societies by roughly 100 years, from the Uyghur Khaganate to its predecessors, the Dokuz Oghuz, a confederation of nine Turkic tribes that later formed the foundation of the Uyghur state.

The excavations are being carried out in Mongolia's Tuul Valley, where Togu Balik -- an ancient city mentioned in the 8th-century inscriptions of Turkic rulers Bilge Khagan and Kul Tigin -- is believed to have stood.

The project is being conducted by the Turkish Archaeology and Cultural Heritage Institute, Izmir Katip Celebi University, and the Mongolian Academy of Sciences, with support from the Turkish Cooperation and Coordination Agency (TIKA).

During the third excavation season, a multidisciplinary team of 30 researchers investigated structures surrounding the city's fortified walls, burial mounds, ritual sites, and rock inscriptions.

Geoarchaeological studies included 45 test drillings.

Excavations uncovered the foundations of a palace complex, remains of a kiln used to produce ceramics, bricks, and roof tiles, and hydraulic structures linked to the nearby Tuul River.

Botanical research documented 124 plant species at the site and identified four wheat varieties that indicate farming was practiced there.

- Identifying the 'lost city'

Saban Dogan, president of the Turkish Archaeology and Cultural Heritage Institute and director of the excavation, said Togu Balik had long been known from Turkic inscriptions and Chinese historical sources, but its location had remained uncertain.

He said the identification followed nearly eight years of research. Archaeologists initially focused on a site previously identified as a Khitan settlement after finding ceramics linked to the Turkic period. Excavations beneath later occupation layers uncovered remains dating to the Turkic era, and Dogan said scholars specializing in the Khitan civilization accepted the team's conclusion that the site was Togu Balik.

Dogan said excavations this year revealed important architectural features of a palace complex in the southeastern part of the city, including its entrance gate and column bases. He said researchers also found evidence that ornamental plants had been brought to the palace from elsewhere, suggesting an emphasis on landscaping, while excavations uncovered a production kiln containing large quantities of misfired ceramics and construction materials, indicating local manufacturing.

- Evidence of large-scale farming

Dogan said research conducted last year showed the city's economy relied heavily on gold and metal mining, while this year's discoveries demonstrated that agriculture also played an important role.

"Our work this year showed that the city's economy was not based solely on mining but that extensive agriculture was also practiced," he said.

"Our colleagues found ancient wheat seeds capable of demonstrating that farming was carried out in that region. Drone surveys then identified the remains of canals stretching about 14 kilometers (8.7 miles) along the Tuul River, where water appears to have been diverted to irrigate agricultural land."

"We are talking about a 14-kilometer water canal. It is believed to have been used to irrigate farmland. We have therefore shown that the settlement was engaged not only in mining but also in agriculture. What we had considered the beginning of this period of advanced agriculture under the Uyghurs can now be traced back another 100 years to their predecessors, the Dokuz Oghuz."

- Tribal symbols help confirm identity

Dogan said surveys in the mountains surrounding the city documented a rock inscription, numerous petroglyphs, and tribal tamgas, or clan symbols. The presence of tamgas associated with the Dokuz Oghuz tribes provided key evidence supporting the identification of the site.

Zooarchaeological analysis also showed that the settlement's inhabitants primarily consumed domesticated sheep and goats, while wild animals such as deer and wild boar were also part of their diet.

Researchers are continuing to investigate burial customs at the site after burned human bone fragments were discovered in ritual areas. Laboratory analyses are underway to determine whether they are linked to cremation or other funerary practices.

Mongolian Youth Showcase National Heritage at International Cultural Exchange www.montsame.mn

Mongolian youth promoted the country's cultural heritage and traditions at the "Future of the Silk Road" international cultural exchange program, held in Beijing and Xiamen, China, from July 19 to 26 under the framework of the Belt and Road Initiative.

The event was organized under a memorandum of understanding on youth cooperation between Mongolia's Ministry of Culture, Sports, Tourism and Youth and the Soong Ching Ling Foundation of China. More than 80 young participants from 16 countries, Armenia, Gambia, Spain, Libya, Malaysia, Mongolia, Oman, Pakistan, the Philippines, Russia, Saudi Arabia, Slovakia, Slovenia, Thailand, Turkmenistan, and Uzbekistan, introduced their countries' history, culture, and traditions while exchanging experiences and strengthening mutual understanding and friendship.

As part of the program, participants visited historical and cultural landmarks, educational institutions, and technology and innovation centers in China. They also exchanged knowledge and experiences on international youth cooperation, cultural diversity, participation, and leadership.

The Mongolian delegation introduced the country's cultural heritage, customs, traditions, and youth organizations to fellow participants, while establishing new partnerships for future cooperation.

Mongolia and the Soong Ching Ling Foundation plan to expand cooperation under the memorandum by jointly implementing projects that promote youth development and participation, enhance the capacity of youth professionals and public officials, support young people living in remote areas and vulnerable groups, and strengthen the skills of young professionals and experts.

By Unurzul.M