This thesis deals with a topic related to the Area Studies. The purpose of this paper is to estimate opportunities of an economic cooperation between Mongolia and Republic of Korea.
Mongolia and Korea is closely related through history. Mongolia and Korea share a lot of similarities in culture, ethnicity, language, and etc., so the people in Mongolia consider Korea as a friendly neighbor as well as an important partner to pursue the economic cooperation in North East Asia. Since 1999, the relations between the two countries have been developing steadily in various areas such as politics, economics, culture, and the exchange of human resources. In terms of economic cooperation, Korea became the fifth major trading country to Mongolia.
Profiles of the Mongolia and Republic of Korea are placed in introductory chapter two, with emphasis on the countries’ economic structure, macroeconomic data and the economic policies of them.
Two main forms of economic relations among countries are trade and investment. It includes in chapter three. This chapter provides background information on mutual trade between the countries and the analysis of data.
According to analysis of economic environments and industrial competitiveness of Mongolia, the most promising sectors for mutual trade and investment seem to be high potential technologies of Korea such as electronics, automobile and machinery, engineering sectors from the Mongolian side. From the Korean side, Mongolian huge abundant natural resource and agriculture product will be a good arena for the trade and investment.
The chapter four describes two countries status in the global economic arena, and future suggestions for the future economic cooperation of the two countries. Finally, chapter five concludes that Mongolia and Korean economic relationship will increase successfully in the future if we combine organically the potentiality of Mongolia and the capital and technology of Korea
