South Korea Seeks Phased Denuclearization and Improved Ties With North Korea

South Korea will seek phased denuclearization of the Korean Peninsula and normalization of relations with North Korea, President Lee Jae Myung said in an interview released Thursday. The president described Mongolia as a trusted partner that could help bridge the divided Koreas.

He said Mongolia's balanced relations with regional powers give it a diplomatic capacity that is more important now than at any time before. "I hope that Mongolia ... will contribute even more to peace and stability, not only on the Korean Peninsula but across Northeast Asia as a whole," the president said.

Lee arrived in Ulaanbaatar earlier in the day for a three-day state visit, the first by a South Korean president in 15 years. He is scheduled to hold a summit with his Mongolian counterpart later in the day and attend a joint business forum. The president said the visit aims to elevate bilateral relations to a strategic partnership and open a new golden era of cooperation.

He cited trade, supply chains, healthcare, and food security as areas for joint work. Lee also said critical minerals are strategic assets and that Mongolia and South Korea can become supply-chain partners given Mongolia's mineral wealth and South Korea's strengths in mining and technology.

Seoul aims to increase annual visitors between the two countries to 500,000 by 2030, the 40th anniversary of diplomatic ties.