President Lee Wraps Up NATO and Mongolia Tour Focused on Defense and Mineral Diplomacy, Returns to Korea

Targeting the 15 Trillion Won European Procurement Market through NATO Defense Diplomacy

Meeting with Trump After Three Weeks for Follow-up Talks on U.S. Naval Vessels

Elimination of Mineral Tariffs through Principled Agreement on Korea-Mong

President Lee Jae-myung concluded his five-day, three-night itinerary, which included the North Atlantic Treaty Organization (NATO) summit and a state visit to Mongolia, and boarded a flight home on July 11 (local time). President Lee focused on elevating defense industry cooperation with NATO allies and establishing a critical minerals supply chain with Mongolia.

At approximately 6:22 p.m. on this day, President Lee boarded a flight from Ulaanbaatar Airport in Mongolia back to Korea. He wore a dark navy suit with a matching tie, while First Lady Kim Hye-kyung was dressed in a gray jacket with a black top and skirt. At the airport, the couple was seen off by Foreign Minister Batsetseg of Mongolia and were presented with bouquets by Mongolian officials. After taking commemorative photos with Minister Batsetseg, President Lee and the First Lady boarded Air Force One.

President Lee’s Defense Industry Diplomacy at NATO... 15 Trillion Won European Procurement Market Opens

President Lee Jae-myung and First Lady Kim Hye-kyung, on a state visit to Mongolia, are seen on July 9 (local time) alighting from Air Force One at Chinggis Khaan International Airport in Ulaanbaatar and moving to a ceremonial vehicle. 2026.7.9 Yonhap News Photo by Yonhap

Upon arriving in Ankara, Turkey, on July 7 for the NATO summit, President Lee immediately embarked on an intensive defense industry diplomacy schedule. He held talks with NATO Secretary General Mark Rutte and announced the commencement of negotiations for a "Basic Procurement Agreement" between Korea and NATO. This agreement is a treaty that covers the legal and administrative requirements for military logistics contracts between NATO and its partner countries. With a single agreement, Korea can access the joint procurement market of NATO member states, which is worth about 15 trillion won annually.

President Lee participated as a keynote speaker at the Defense Industry Forum, a core event of the NATO summit, where he proposed the "Korea-NATO Defense Industry Partnership 2.0." The proposal aims to upgrade cooperation with allied nations from simple arms transactions to joint research, production, and operation. He emphasized, "We must boldly expand joint research on advanced technologies," adding, "The process of conducting joint research and development ensures alignment of technical standards and is the most reliable way to share the direction of innovation."

On the sidelines of the NATO summit, President Lee held his first official summit meeting with Ukrainian President Volodymyr Zelenskyy. President Lee explained the Korean government’s pledge to provide $100 million in support to Ukraine, to which President Zelenskyy expressed his gratitude. However, the Blue House clarified that Korea’s support is intended to demonstrate its commitment to international peace and security, and does not include the provision of lethal weapons.

Meeting with Trump After Three Weeks... Follow-up Talks on U.S. Warship Construction

President Lee Jae-myung and U.S. President Donald Trump are conversing at the official welcome dinner hosted by President Recep Tayyip Erdogan and his spouse at the Presidential Palace in Ankara, Turkey, on July 7 (local time). 2026.7.8 Yonhap News Agency

On July 8, at an official welcome dinner hosted by Turkish President Recep Tayyip Erdogan and his spouse, President Lee met with U.S. President Donald Trump. Regarding the issue of military vessels, President Lee stated, "I will cooperate to the fullest extent possible with President Trump’s request," and introduced Korean shipbuilding companies. This encounter came about three weeks after their previous meeting at the Group of Seven (G7) summit in Evian, France, last month, where President Trump notably asked President Lee if Korea could expedite the construction of ten U.S. warships.

On this matter, a senior Blue House official said, "There seems to be an impression that building them in Korea is not being ruled out." Under current U.S. law, American warships must be constructed within the United States. However, to meet President Trump’s request at last month’s G7 summit for the rapid construction of ten U.S. warships, it would be necessary to either ease existing laws or find a new approach to warship construction. The official added, "There could be various methods, but we need to determine which approach is being considered."

Principled Conclusion of Korea-Mongolia CEPA, Elimination of Tariffs on Mongolian Minerals

President Lee Jae-myung and Mongolian President Ukhnaagiin Khurelsukh shake hands after a joint press conference at the Ulaanbaatar Government Office on July 9, 2026 (local time). Photo by Yonhap News

After completing the NATO summit in just two days, President Lee traveled to Mongolia to begin his state visit. This visit was at the invitation of Mongolian President Ukhnaagiin Khurelsukh, and it was the first time in 15 years that a Korean president has visited Mongolia in a state capacity.

In Mongolia, the focus was on critical minerals and building supply chains. President Lee held a summit with President Khurelsukh and announced the principled conclusion of the Comprehensive Economic Partnership Agreement (CEPA). Negotiations on the CEPA, which began in 2023, had stalled due to concerns over the opening of the Mongolian market, but with the growing importance of critical minerals, a broad agreement was reached. With the entry into force of the Korea-Mongolia CEPA, the 2–5% import tariffs on Mongolian minerals will be eliminated, ensuring a more stable supply.

At the joint press conference immediately following the summit, President Lee stated, "With the principled conclusion of the CEPA, we will work together to reach $1 billion in bilateral trade by 2030," adding, "We also plan to expand mutually beneficial and sustainable cooperation in various fields, including artificial intelligence (AI) and digital transformation, advanced science and technology, logistics and infrastructure, agriculture and livestock, healthcare and medicine, and development cooperation."

21 MOUs Signed Each by Governments and Private Sector... Advancement of Mineral Cooperation

President Lee Jae-myung delivered a congratulatory speech at the Korea-Mongolia Business Forum held at a hotel in Ulaanbaatar, Mongolia, on the 9th (local time). 2026.7.9 Yonhap News Agency

The 21 memoranda of understanding (MOUs) signed by the governments and by the private sectors of both countries respectively included provisions to advance cooperation on critical minerals. The Korea-Mongolia governments agreed to conduct joint research in areas such as resources, to secure core technologies, and to stabilize resource supply chains. The private sector MOUs covered cooperation on nickel and copper exploration in Mongolia, as well as joint development of various rare metals.

President Lee did not hide his high expectations for cooperation on critical minerals. At the Korea-Mongolia Business Forum, he said, "It would be great if we could join forces as strong partners in the fields of critical minerals and supply chains," adding, "If Mongolia, a resource-rich nation with abundant copper, molybdenum, tungsten, and rare earth elements, works together with Korea, which boasts advanced technology, capital, and logistics, we can create strong synergies in supply chain sectors."

Blue House: "Mongolia Will Play the Necessary Role for Resumption of Inter-Korean Dialogue"

At the same time, the governments of Korea and Mongolia agreed to join forces in achieving peace on the Korean Peninsula. Wi Sung-lac, Chief of the National Security Office at the Blue House, stated at a local briefing in Ulaanbaatar, "President Khurelsukh expressed strong support for our government’s efforts to achieve peace on the Korean Peninsula," adding, "Given that Mongolia maintains traditional friendly relations with North Korea, the Mongolian side said it would play any necessary role to create the conditions for improving inter-Korean relations and resuming dialogue."

However, the joint press conference held after the summit did not include explicit mention of "denuclearization." In an interview with Mongolia’s state news agency Montsame, President Lee said, "We have a vision to promote step-by-step denuclearization in a comprehensive manner," but in actuality, only the phrase "efforts to establish peace on the Korean Peninsula" was mentioned. On this, a senior Blue House official said, "Inter-Korean issues and the North Korean nuclear issue were discussed during the Korea-Mongolia summit," and added, "Please consider the discussion in its entirety."

President Lee Jae-myung, on a state visit to Mongolia, is shooting a traditional bow at the Ulaanbaatar Naadam Festival on the 11th (local time), watched by First Lady Kim Hye-kyung, Mongolian President Ukhnaagiin Khürelsükh, and Mrs. Lobsangdorji Berlertshech. 2026.7.11 Yonhap News Agency

On the final day of the state visit, President Lee attended the Naadam Festival, Mongolia’s largest traditional folk festival, which is held every July to honor Mongolia’s freedom and independence. Mongolia invites top-level state guests to the festival each year, and this is the first time a Korean president has attended as the guest of honor. President Lee and First Lady Kim Hye-kyung visited the festival stadium and participated in archery. President Lee concluded his itinerary with a farewell luncheon hosted by Mongolian President Khurelsukh.

This content was produced with the assistance of AI translation services.