Lee begins 2nd day of visit after sharing vision for 'golden' era with Mongolian leader

SEOUL, July 10 (AJP) - President Lee Jae Myung is set to begin the second day of his three-day state visit to Mongolia by visiting a memorial honoring independence activist Lee Tae-jun who practiced medicine there.

Lee arrived in Ulaanbaatar the previous day, marking the first such visit to Mongolia by a South Korean president in about 15 years.

Lee is then scheduled to hold a luncheon meeting with South Korean residents there, before meeting with Mongolia's parliament speaker Sandag Byambatsogt and Prime Minister Nyam-Osoryn Uchral to discuss ways to strengthen cooperation between the two countries. He will then attend a state banquet hosted by Mongolian President Ukhnaagiin Khürelsükh later in the day.

The banquet comes after Lee held a summit with Khürelsükh the previous day, during which the two leaders agreed to expand cooperation in trade, critical minerals and advanced technologies while declaring a shared vision for a "golden age" of bilateral relations.

Under the vision, the two leaders agreed in principle to pursue a Comprehensive Economic Partnership Agreement (CEPA) and work toward raising annual bilateral trade to US$1 billion by 2030.

"Since the establishment of diplomatic relations between South Korea and Mongolia, the two countries have built cooperation across various fields," Lee was quoted as saying at the summit. "Based on three decades of friendship and trust, I hope the two countries will further deepen strategic partnership."

Lee and Khürelsükh agreed to strengthen cooperation in supply chains including those involving critical minerals, while expanding collaboration in artificial intelligence, digital transformation and cutting-edge technologies.

They vowed to strengthen cooperation on regional and international issues by expanding high-level exchanges and strategic communication. Lee also shared South Korea’s vision for peace and cooperation on the Korean Peninsula with Khürelsükh and stressed the importance of maintaining peace and stability in the region. Khürelsükh expressed strong support for the vision.
  The two countries also signed 21 memorandums of understanding (MOUs) on the sidelines of the summit, aimed at expanding cooperation in areas including AI and logistics.

Lee will conclude his visit on Friday by attending the opening ceremony of Naadam, Mongolia's largest traditional festival, as guest of honor before returning home on Saturday.