Key facts
- South Korean President Lee Jae Myung concluded a three-day state visit to Mongolia.
- This was the first state visit by a South Korean head of state to Mongolia in 15 years.
- Lee and Mongolian President Ukhnaa Khurelsukh agreed to expand cooperation in critical minerals, trade, and advanced technologies.
- The leaders agreed in principle on a Comprehensive Economic Partnership Agreement (CEPA).
- The countries aim to increase annual bilateral trade to $1 billion by 2030.
- President Lee attended Mongolia's largest national festival, Naadam, as a special guest.
South Korean President Lee Jae Myung concluded a three-day state visit to Mongolia, marking the first such visit by a South Korean head of state in 15 years. During the visit, Lee and Mongolian President Ukhnaa Khurelsukh declared a shared vision for expanding cooperation in various fields, including trade, critical minerals, and advanced technologies.
The two leaders agreed in principle on a Comprehensive Economic Partnership Agreement (CEPA), with the goal of increasing annual bilateral trade to $1 billion by 2030. They also pledged to strengthen cooperation in supply chains, particularly those involving critical minerals.
President Lee attended Mongolia's largest national festival, Naadam, as a special guest alongside President Khurelsukh, aiming to promote friendship between the two nations. The visit to Mongolia was the final leg of Lee's two-nation trip, which also included participation in the NATO summit in Ankara as a partner nation.