South Korea to Import Mongolian Rare Earths Tariff-Free Under CEPA Agreement

Published: Jul 10, 2026 13:20

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South Korean President Lee Jae-myung held a summit with Mongolian President Khurelsukh at the government complex in Ulaanbaatar and announced the conclusion in principle of a Comprehensive Economic Partnership Agreement (CEPA) through a joint declaration.

As a result, South Korea will immediately eliminate the 2–5% import tariffs previously imposed on Mongolian copper, molybdenum and rare earths.

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