Lee seeks phased Korean denuclearization, eyes Mongolia partnership

South Korean President Lee Jae Myung is pursuing a phased approach to denuclearization of the Korean Peninsula and normalization of relations with North Korea. During a state visit to Ulaanbaatar, Lee met with Mongolian President Ukhnaa Khurelsukh to declare a "golden age" of relations and a shared vision for cooperation. Key areas of focus include expanding trade, strengthening supply chains for critical minerals, and advancing in fields like artificial intelligence and digital transformation. The leaders agreed in principle on a Comprehensive Economic Partnership Agreement, targeting $1 billion in annual bilateral trade by 2030. They also committed to deepening strategic partnership through enhanced political and diplomatic trust, alongside increased cultural and people-to-people exchanges. Lee shared South Korea's vision for peace on the peninsula, with Khurelsukh expressing strong agreement and thanking Mongolia for its constructive role. A total of 21 memorandums of understanding and agreements were signed between the two nations.