Mongolian President Tsakhia Elbegdorj and the new ambassador from the Democratic People's Republic of Korea (DPRK) on Tuesday discussed the Korean Peninsula situation.

Receiving Ambassador Hon Gu's credentials, Elbegdorj discussed with Hon on how to solve the crisis on the Peninsula via peaceful means, his office said in a statement, adding that the Mongolian government pledged to contribute to the final settlement of the crisis.

This year marks the 65th anniversary of the establishment of diplomatic relations between Mongolia and the DPRK, Elbegdorj said.

He also said Mongolia is willing to further promote the traditional friendship between the two countries.

Hon said the DPRK's top leader Kim Jong Un invites Elbegdorj to visit the DPRK, and noted that the DPRK is interested in reforming its economy.

Elbegdorj said Mongolia is ready to share its experiences in economic reforms. Endi