[Anchor]

President Lee Jae-myung, having concluded his attendance at the NATO summit, has arrived in Mongolia for a state visit. The leaders of the two countries declared their commitment to opening a golden age in South Korea-Mongolia relations, emphasizing cooperation on supply chains, including rare earth elements, and coordination for peace on the Korean Peninsula.

Reporter Kang Min-u reports from Ulaanbaatar.

[Reporter]

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

A cavalry unit in traditional Mongolian attire welcomes President Lee Jae-myung, the first South Korean leader to pay a state visit to the country 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) that has reached an agreement in principle, we will expand mutually beneficial cooperation in various fields, including not only the economy but also development cooperation, health, and medical care.]

In particular, they expressed expectations that synergy in the supply chain sector could be achieved if Mongolia, which is rich in core minerals such as rare earth elements, collaborates with South Korea, which possesses capital and technology.

President Lee requested that Mongolia, which is the second country to establish diplomatic ties with North Korea, continue to support peace on the Korean Peninsula.

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

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

Having concluded the first day of his state visit to Mongolia, President Lee plans to continue meetings with key figures, including the Speaker of the Mongolian Parliament, tomorrow to further solidify plans for the development of South Korea-Mongolia relations.

(Video coverage: Ha Ryung, Video editing: Park Seon-soo)