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World Politics

Economic Cooperation Between the Republic of Korea and Mongolia: Current Status and Prospects

Grigor'eva Yuliya Gennad'evna

PhD in History

senior researcher at Institute of Mongolian Studies, Buddhist Studies and Tibetan Studies of the Siberian Department of the Russian Academy of Sciences

670002, Russia, respublika Buryatiya, g. Ulan-Ude, ul. Buiko, 20a

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Abstract: The subject of this research is the main trends of trade and economic cooperation between the Republic of Korea and Mongolia at the present stage. The aim of the research is to create a picture of trade and economic cooperation between Mongolia and the Republic of Korea at the present time. The author of the article describes trade and economic relations between Mongolia and the Republic of Korea, defines the role of investments of the Republic of Korea in the development of bilateral cooperation, and describes the main problems faced by South Korean companies during executing their investment projects in Mongolia. In her research Grigorieva analyzes the results of economic cooperation between the Republic of Korea and Mongolia over the past 25 years and offers activities to be taken to expand the scope of their economic cooperation in the future. The methodological basis of teh research involves general and special research methods such as comparative historical analysis that allowed to define the state of the problem based on the analysis of different sources; statistical method that allowed to trace back quantitative changes in trade and economic bilateral relations between Mongolia and the Republic of Korea; and logical method that defined problems and trends in studying Mongolian - South Korean investment relations. The novelty of the research is caused by the fact that this is a rather understudied topic and the author defines trends in the trade turnover between Mongolia and the Republic of Korea during the aforesaid period. The author concludes that against the active cooperation between Mongolia and the Republic of Korea, their economic relations are still have much to catch up with in political and sociocultural environment. Trade relations between Mongolia and the Republic of Korea show positive dynamics, with ups and downs, however, have a declining tendency. 

Keywords: investment cooperation, foreign direct investment, Mongolian-South Korean relations, trade and economic relations, Republic of Korea, Mongolia, exports, imports, economy, foreign trade
This article written in Russian. You can find full text of article in Russian here .

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