The National Pension Service (Chairman and CEO Moon Hyung Pyo, ‘NPS’) announced that it signed an Memorandum of Understandings (MOU) with The General Authority For Social Insurance(GASI) of Mongolia on July 18 at Blue Sky Hotel in Ulaanbaatar.

The two agencies agreed to exchange information related to pension scheme management and to establish and strengthen cooperation for mutual exchange through developing cooperation activities such as education, training, and joint research.

The two institutions previously signed an MOU for Reception of the Application for Benefits in 2007. By signing this agreement, the NPS initiated to share its experience and knowledge in operating the Korean National Pension with other Asia-Pacific countries and lead the Korean wave or “hallyu” in the pension field.

The NPS explained that it plans to sign more MOUs for both benefits and future cooperation with countries in the region to act as a regional hub distilling knowledge and experience while seeking to achieve mutual growth.