South Korea and Mongolia have signed a memorandum of understanding(MOU) for a project to modernize Mongolia's address system based on a system used in South Korea.

According to Seoul's interior ministry on Friday, the MOU signing was preceded by its introduction of the country's address system during a visit to Mongolia in March, and Mongolia's proposal for bilateral cooperation last month.

Under the MOU, the two sides have agreed to share South Korea's modernized technology and experience for Mongolia's establishment of an address information system.

They will adopt a comprehensive system based on international technical standards and new technology, while Seoul supports enactment and revisions for related laws and regulations.

South Korea also pledged inclusive cooperation regarding Mongolia's address system modernization, including people-to-people exchanges for training to enhance capacity of related human resources.