Authors: Odgerel, Ayurzana
1. Introduction
It has been for 20 years since diplomatic relations were established between Mongolia and Korea. During this period both countries’ political and economical as well as cultural relations have been for higher level and it is increasing rapidly.
Nowadays there are 3000 students and 30.000 people who work and study in Korea. Almost 3000 Koreans have small and medium business enterprises in Mongolia. The number of tourists who visit both countries is increasing year by year [1].
However it has been one of the argumentative points that the relation of the countries has been limited to the scope of small and medium business enterprises and there is not enough joint economical profit investment for both countries.
Koreans usually have such business like running a cafeteria, karaoke and construction company in Mongolia within limited career just concerning one side business profit. It is important to change this situation and invest in profitable branch and field and cooperate well enough for further.
The differences of interest and profit that are the main reasons of unsatisfied investment of two countries are touched up in the article. Also it tells about some efficient ideas, ways and methods for cooperation of investment in the field of mineral resources and information technology industry based on the high technology.
2. Differences of profit interest for the investment
It is seen that the main factor of limited investment is the differences of profit interest of two parts. Profitable business cooperation always concern profit interest of both parts and it should have possibilities for further extension and development. Although current investment units offer situation with self-dominated interest and profit or impossible ways and chances for further development. These days it has been invested in the following field from Korea in Mongolia.
1. Implement some main infrastructure and constructional tenders by the government
2. Own some big mineral deposits and run it
3. Increase some small business enterprises for Koreans in Mongolia and propagate Korean culture in Mongolia
This kind of simple standard technology appliances don’t need any government policy to support Korean industries specially. Natural market choice can make a decision for it.
On other side, poor economical capacity of Mongolia had been limiting the normal cooperation and investments. Investments has been limited in tiny support and aid in humanity and environmental sectors. Present, economical capacity of Mongolia is upgrading to more advantage level. There is a necessity of policy that can manage excellent cooperation, and foreign investment because of new level of economical capacity of present Mongolia. The policy of developing industries and own technology is supported by the government.
Current policy is building new research academy or scientific research centers for studying new techniques and technology based on natural resources, raw materials and staff, increasing investment, having new competitive market and producing new products. Related to this it is arisen that having joint research team in order to reach to the new step of business collaboration for two countries.
3. Further orientation and ideas in the fields of area
Mongolia and Korea have some similarities to expressing their voice to the big economical zone of South East Asian region and China and Russia as well as further development of their countries. Korea has extensive research experience because of high development of industries based on the technology. There are some advantages that Mongolia is one of the top ten countries in the world with natural resources and raw materials and it is located between Russia and China which are the biggest world market. Thus, there are full possibilities for our countries as a result of excellent joint cooperation which are able to be in the high ranking positions in the world market place as Mongolia and Korea have some similarities to the further development policy and each countries are profitable to each other and have own specific advantages.
Therefore, it is really essential to develop master plan in order to be popular in the world market place and concern cooperating organizations and also define the importance of cooperation, discovering new market. There are possible ideas for further cooperation and also appropriate actives for the fields and units.
3.1 Industrial technology click here to read
3.2 IT (Information Technology) sector click here to read
4. Conclusions
Looking from the current situation it is seen that Mongolia and Korea have full possibilities to develop business collaboration within broad career if the countries use well enough their advantages of the countries for the future. It will be valuable and a great contribution to the business and economical cooperation of two countries, having new techniques, technology, recycling and producing new products in the new market for the field of geology, mining, electronics, information technology, medicine and agriculture. It should be establish joint research centers and science academy based on the natural resources and raw materials of Mongolia.
Furthermore, the policy to support new business venture companies, and have joint funds and work partnership can be a good motivation for all levels and rapid extension of further cooperation.
