Strategies for strengthening South Korea's position in mongolian mining sector

Despite its challenges and volatilities due to number of internal and external factors, Mongolian mining industry remains to be the most important driver for its economic development. Mineral products consistently comprise over 80% of Mongolia's total exports and efforts are being made to switch the raw commodity based exports to more value-added products and the role of foreign investments in the forms of capital, technology and expertise are crucial for this process. Several countries have been successfully cooperating with Mongolia in its mining sector and among these counties, this paper will investigate South Korea's position, identify the challenges it is facing and attempt to provide recommendations on a commercial basis.