We demonstrate non-thermal ultrafast laser excitation of spin precession with THz frequency in Gd-Bi-substituted iron garnet via the inverse Faraday effect. The modulation of THz precession by about 60 GHz below the compensation temperature of magnetic moment was observed. The THz frequency precession was caused by the exchange resonance between the Gd and Fe sublattices; we attributed the low-frequency modulation to dielectric resonance mode with a magnetic contribution. We demonstrate the possibility of polarization-sensitive control of spin precession under THz generation by laser pulses, helping to develop high-speed magneto-optical devices.
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