In a meeting held at the South Korean presidential office, Cheong Wa Dae, the visiting Mongolian prime minister said his country fully supports Moon's initiative to peacefully resolve the North Korean nuclear issue and establish peace on the Korean Peninsula.

"The Mongolian government will continue to support the policy initiatives you, Mr. President, have proposed to reduce tension and establish peace and stability on the Korean Peninsula," Khurelsukh said, according to Cheong Wa Dae pool reports.

South Korean President Moon Jae-in (R) shakes hands with Mongolian Prime Minister Ukhnaa Khurelsukh in a meeting held at his office in Seoul on Jan. 15, 2018. (Yonhap) South Korean President Moon Jae-in (R) shakes hands with Mongolian Prime Minister Ukhnaa Khurelsukh in a meeting held at his office in Seoul on Jan. 15, 2018. (Yonhap)

Moon proposed the countries work together to upgrade their ties into a "comprehensive partnership," noting they shared a long history of friendship.

"South Korea and Mongolia are very close ethnically, historically, culturally and geographically. They both pursue common goals of democracy and market economics," he told the Mongolian prime minister. "Also, they share a common goal of peace in Northeast Asia."

Khurelsukh arrived here earlier in the day for a three-day visit. He is set to attend a joint business forum and meet other Korean leaders before heading home on Wednesday. The Moon-Khurelsukh meeting also involved Mongolia's Foreign Minister Damdin Tsogtbaatar and other visiting officials, including lawmakers.

Monday's meeting came about four months after Moon and his Mongolian counterpart Khaltmaagiin Battulga agreed to increase exchange and cooperation between their countries in a bilateral summit held on the sidelines of a regional economic forum in Vladivostok, Russia, in September.

South Korea and Mongolia established diplomatic ties in 1990.