SEOUL-- President Moon Jae-in presided over a National Security Council (NSC) meeting Thursday and discussed long-term security threats, including supply constraints that hurt global economic growth, Cheong Wa Dae said.

Thursday's meeting was convened to discuss security challenges between 2021 and 2030, including an intensifying competition between democratic and authoritarian governments, a rise in populism amid democratic regression and global supply disruptions, Cheong Wa Dae said in a statement.

In order to overcome the challenges, South Korea needs to step up cooperation with the international community for a global recovery of democratic values, it said.

Also, South Korea needs to make more efforts to secure stable imports of foreign minerals to cope with trade protectionism by nations around the world, it said.

A decline in the nation's overall food self-sufficiency was cited as one of the long-term security challenges and the NSC discussed ways to diversity import sources of grains and other food items, according to the statement.

The NSC session was also expected to discuss Russia's invasion of Ukraine and its impact on South Korea.

South Korea said it will ban exports of strategic items to Russia and join international efforts to isolate Russian financial institutions from a key global payment system.

Moon and his security aides were also expected to discuss measures to minimize the economic impact of the Ukrainian crisis.

Source: Yonhap News Agency