Declaration of a 'Golden Age' for Korea-Mongolia Ties: Cooperation on Supply Chains and Peace on the Korean Peninsula

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President Lee Jae-myung, who is on a state visit to Mongolia, has declared the opening of a 'golden age' in relations between South Korea and Mongolia. The leaders of the two countries emphasized cooperation not only in the economic sector but also in supply chains, including rare earth elements, and for peace on the Korean Peninsula.

Reporter Kang Min-u reports from Ulaanbaatar.

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As the South Korean national flag is raised in Sukhbaatar Square, the equivalent of Gwanghwamun Square in Mongolia, the national anthem plays and a 21-gun salute echoes.

A cavalry unit in traditional Mongolian attire welcomes President Lee Jae-myung, the first South Korean head of state to pay a state visit in 15 years.

[Respected President, loyalty!]

President Lee and Mongolian President Ukhnaagiin Khurelsukh agreed to open a 'golden age' in bilateral relations and increase trade to 1 billion dollars by 2030.

[President Lee Jae-myung: Based on the Comprehensive Economic Partnership Agreement (CEPA), which has reached an agreement in principle, we will expand mutually beneficial cooperation in various fields, including development cooperation, health, and medicine, as well as the economy.]

In particular, they presented a model of mutually beneficial cooperation where both countries organically combine their strengths. They emphasized that synergy in the supply chain sector can be achieved if Mongolia, which is rich in core minerals such as rare earth elements, and South Korea, which possesses capital and technology, cooperate.

President Lee requested that Mongolia, the second country to establish diplomatic ties with North Korea, support peace on the Korean Peninsula. The Mongolian side responded that it would play the necessary role to help create conditions for the improvement of inter-Korean relations and the resumption of dialogue.

[President Lee Jae-myung: I would like to express my gratitude once again to the President for stating that he will always support our government's efforts to establish peace on the Korean Peninsula.]

At the Korea-Mongolia Business Forum, about 20 agreements and MOUs signed between the two countries were also introduced.

On today, July 10, the second day of his state visit, President Lee will hold meetings with key figures, including the Speaker of the Mongolian Parliament, and attend a meeting with Korean residents.

(Video coverage: Ha Ryung, Video editing: Park Seon-soo)
※ Please note: This article was translated by AI and may contain errors.