ULAANBAATAR — The leaders of South Korea and Mongolia discussed expanding cooperation on critical minerals, including rare earth elements, to build a resilient and complementary partnership in trade and supply chains during their summit in Ulaanbaatar, Thursday. President Lee Jae Myung also exchanged views with Mongolian President Khurelsukh Ukhnaa on promoting peace and prosperity on the Korean Peninsula by leveraging Mongolia's decades-long friendly ties with North Korea. The bilateral summit took place on the first day of Lee’s three-day state visit to Mongolia — the first by a Korean head of state in 15 years and just one year after Lee took office in June 2025. According to Cheong Wa Dae, the timing reflected the two countries’ view of each other as key partners in diversifying their diplomatic horizons, with Seoul’s “pragmatic diplomacy” aligning with Ulaanbaatar’s “Third Neighbor Policy.” The presidential office said critical minerals were high on the agenda, as resource-rich Mongolia offers Korea an opportunity to diversify and strengthen its supply chains ami