SEOUL – South Korea’s newly elected President Lee Jae-myung announced on Wednesday his intention to engage in dialogue with North Korea while enhancing a trilateral alliance with the U.S. and Japan.

In his inauguration speech a day after the election, he stated that his administration would address potential North Korean threats through “a strong deterrence” rooted in the robust South Korea-U.S. military alliance. However, he emphasized his willingness to keep channels open for negotiations with North Korea to achieve peace on the Korean Peninsula.

He said he’ll pursue pragmatic diplomacy and boost a trilateral Seoul-Washington-Tokyo cooperation based on the South Korea-U.S. alliance.

Lee, who ascended from a background of poverty to become South Korea’s foremost liberal leader, pledged to combat inequality and corruption. His victory came in a snap election on Tuesday, following the ousting of former President Yoon Suk Yeol, who faced backlash for his unsuccessful attempt to impose martial law late last year.

Lee’s term began immediately without the usual two-month transition period after the National Election Commission formally confirmed his victory Wednesday morning.

In a telephone call with Joint Chiefs of Staff Kim Myung-soo, Lee asked the military to closely monitor North Korean moves and maintain a solid readiness based on the combined South Korea-U.S. military alliance, according to local TV footage.

Lee later visited the national cemetery in Seoul to pay respects to late Korean leaders, patriots and war dead who are buried there.