▲ President Lee Jae Myung (L) and Mongolian President Ukhnaa Khurelsukh shake hands during their summit in Ulaanbaatar on July 9, 2026. (Yonhap)
▲ President Lee Jae Myung (L) and Mongolian President Ukhnaa Khurelsukh attend a ceremony welcoming Lee's state visit to Mongolia, in Ulaanbaatar on July 9, 2026. (Yonhap)
▲ President Lee Jae Myung (L) and Mongolian President Ukhnaa Khurelsukh shake hands during their joint press announcement in Ulaanbaatar on July 9, 2026. (Yonhap)

(LEAD) S Korea-Mongolia-summit

(LEAD) Lee, Mongolian president pledge closer cooperation on critical minerals, trade, advanced tech

(ATTN: UPDATES with more info in last 4 paras; ADDS photos)

By Park Boram

ULAANBAATAR, July 9 (Yonhap) -- South Korean President Lee Jae Myung held a summit with his Mongolian counterpart, Ukhnaa Khurelsukh, on Thursday and declared a shared vision for cooperation in various fields, most notably in trade, critical minerals and advanced technologies.

Lee made the remarks during a joint press announcement with Khurelsukh following their summit in Ulaanbaatar, declaring the start of a "golden age" of South Korea-Mongolia relations.

Lee arrived in the Mongolian capital earlier Thursday for a three-day state visit, marking the first such visit to Mongolia by a South Korean president in 15 years.

"Building on more than three decades of friendship and trust, this joint declaration will serve as an important milestone as we work together to forge a true golden age of Korea-Mongolia relations," Lee said.

Under the shared vision, Lee said the two countries will expand cooperation in the economy, trade and supply chains, including those involving critical minerals.

Lee said the two countries agreed in principle on a Comprehensive Economic Partnership Agreement, saying that, under the framework, they will work toward achieving US$1 billion in annual bilateral trade by 2030.

The South Korean president also cited artificial intelligence (AI), digital transformation, and cutting-edge science and technology as areas in which the countries will work to expand cooperation.

The leaders also agreed to further strengthen political and diplomatic trust while deepening their countries' strategic partnership by expanding high-level exchanges and strategic communication and maintaining cooperation on regional and international issues, according to Lee.

To further expand cultural and people-to-people exchanges, the two countries will promote exchanges in tourism, education, employment and culture, while strengthening consular cooperation, the South Korean president noted.

Lee said he also shared with Khurelsukh South Korea's vision for peace and cooperation on the Korean Peninsula and stressed the importance of maintaining peace and stability in the region. Khurelsukh expressed strong agreement in return, he said.

Lee said he will attend Mongolia's largest national festival, Naadam, on Saturday, expressing hope that it will serves as an opportunity for the people of Korea and Mongolia to grow closer.

During the summit, the South Korean president said his government will seek to bring peace to the peninsula by pursuing dialogue and cooperation, thanking Mongolia for its constructive role in advancing such efforts and expressing hope for its continued support.

"Based on the trust between the two countries, I will further strengthen bilateral political trust and deepen our strategic partnership," Lee said.

Khurelsukh described bilateral relations as a "strategic partnership," saying Lee's visit to Mongolia would make a valuable contribution to strengthening political trust and expanding substantive economic cooperation between the countries.

On the sidelines of the summit, the two countries signed a total of 21 memorandums of understanding and agreements between their ministries and institutions, including those aimed at strengthening cooperation in AI and logistics and expanding exchanges in cybersecurity and next-generation communications.

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