Mongolia Backs Seoul"s Engagement Policy towards NK

Mongolian President Natsagiin Bagabandi said that he will support Seoul's policy of engagement towards North Korea in a summit meeting with President Kim Dae Jung on May 31 in the Mongolian capital, Ulan Bator.
He also stated that North Korea has to observe the 'Agreed Framework' of October 1994, which called for the suspension of NK's nuclear program for the peace of the Korean Peninsula.
An 11-point joint statement was drawn up after the summit talks in which the two leaders agreed to build a multilateral cooperative system for the security of Northeast Asia in the 21st century.
The statement also said that the two countries will cooperate with each other on such issues as further economic development and bilateral educational projects.
President Kim said that Korea will make every effort to help Mongolia facilitate economic development and promised to provide 19.6 million dollars in low-rate loans to Mongolia for the modernization of its telecommunication infrastructure.
An additional 3.1 million dollars for the construction of a hospital and a job training center and 1 million dollars for a fire power plant will be granted to Mongolia in the near future.
Kim will be back in Seoul June 1.
Shang-bok Shim : simsb@joongang.co.kr