South Korea and Mongolia will boost their cooperation in football after leaders from both sides agreed to mutual football development programs, the sport's national governing body said Friday.

The Korea Football Association said that its chief Chung Mong-gyu had a meeting with Mongolian President Tsakhiagiin Elbegdorj and Mongolian Football Federation head Ganbaatar Amgalanbaata at a Seoul hotel on Thursday night and discussed bilateral cooperation between the two countries in football.

"Personally I love football," President Elbegdorj said.

"Although football in Mongolia is just at the beginning stage as of now, someday I hope my country to become a football powerhouse in Asia like the Korea Republic, and would like to see some Mongolian players playing in Europe."

Chung, who is also a member of the Asian Football Confederation Executive Committee, responded that the KFA is ready to help Mongolia's effort to develop football in the country.

"Mongolia has great potential in football, and I personally believe football development is a root of youth development," he said. "I look forward to working together with the president of the Mongolian Football Federation for mutual cooperation, including football exchange programs."

Their meeting followed a summit between Elbegdorj and President Park Geun-hye at Cheong Wa Dae, South Korea's presidential office, in Seoul on Thursday. Both sides signed three memorandums of understanding that include cooperation in the sports sector.

South Korea, semifinalists at the 2002 FIFA World Cup, are currently ranked No. 54 in FIFA rankings, while Mongolia is at No.203. (Yonhap)