President Lee Jae Myung (left) speaks during a press conference at Cheong Wa Dae in Seoul on Monday. (Yonhap) President Lee Jae Myung on Monday said South Korea cannot abandon the goal of denuclearizing the Korean Peninsula, but that a phased approach is needed.Saying that the endeavor should begin with immediate efforts to halt North Korea’s further production of nuclear materials, Lee ruled out Seoul’s own nuclear armament as a realistic option.Lee made the remarks during a press conference marking the first anniversary of his inauguration, in response to a question about concerns that Chinese President Xi Jinping's visit to North Korea could weaken efforts to denuclearize Pyongyang.“Unfortunately, North Korea is producing nuclear materials even at this moment,” Lee said. “It is producing enough material to make roughly 10 to 15, or even 20, nuclear weapons a year.”Lee said North Korea is also continuing to improve its ballistic missile and intercontinental ballistic missile technologies, which he said are assessed to be nearing the final stage of development.“If things continue as they are now, (the number of) nuclear weapons will keep increasing and ICBM technology will keep moving toward completion. Is that good?” Lee said.If left to continue, Lee said that the North will turn its eyes outside the Korean Peninsula, exporting nuclear and ballistic missile technologies.Regarding calls for South Korea to pursue its own nuclear armament, Lee warned that such a move could trigger a broader nuclear arms race in East Asia.“If South Korea armed itself with nuclear weapons, would Japan just stay still? Would Taiwan just stay still? Would East Asia just stay still?” Lee said. “The whole neighborhood would become filled with nuclear weapons. That is not desirable.”Lee also underscored that nuclear armament is not a realistic option for South Korea because it would bring severe international sanctions, citing the country’s high dependence on global markets and external trade.Lee said that denuclearization should remain a long-term goal, but added that short-term negotiations should focus on halting North Korea’s additional production of nuclear materials and further development of ballistic missile and ICBM technologies.Lee added that he had shared this view with countries including the United States, China and Russia.