While the rising international price of energy and mineral resource increase since 2000, Korea promotes forward a national project like overseas resource development with great interest targeting resource-rich countries. However, Korea has short history to enter and invest into Mongolia for mineral development, which is the ten major mineral resource rich country in the world, is near from Korea geographically, and is very similar racially with Korea. Because Mongolia is land locked country surrounding China and Russia, Korea has a big problem to transport the mineral resources that Korean corporations invested and developed by land.
Global major mineral development corporations started to invest into Mongolia in the early 2000s when international price of raw materials are rising, and they thought that mineral resources development of Mongolia have great potentials. As a result, companies from China and Canada achieved substantial success to develop minerals as the first discoverers of a great mine in Mongolia. Foreign companies already begin to develop the mine of Oyu Tolgoi with government of Mongolia, and they try to participate in development of one of strategic mine, Tavan Tolgoi which Mongolia selects bidders to invest Tavan Tolgoi in the near future. 
At the same time, Mongolia attracts foreign investors for development of mines, which it can not develop because of funding, and for jumping up to be a industrial country based on development of mineral industry. In other words, Mongolia implements a policy that gives equal rights to foreign investors and deregulate foreign investment or exempts from corporate tax, windfall profits tax, and value added tax.
However, entry situation of Korea into Mongolia is not reach their potential to cooperate between two countries. Korea entered into Mongolia much later that major countries, and participate in develop the mines, but it can not get a profitable outcome yet. Because Korea imports mineral resources amount 16 billion dollars from Australia annually, it is one of the most important policy to secure mineral resources for the future of Korea. In this point, Korea has to expand the level of cooperation with Mongolia.
Since Korea established diplomatic ties with Mongolia on March, 1990, researches about history and culture of Mongolia were progressed actively while researches about economy and political issues of Mongolia were not. Especially, methodical researches of mineral resources of Mongolia that is representative mineral-rich country were barely in Korea. The existing researches covered only situation of mineral development, so they could provide a limited implication for understanding and analyzing all about mineral policy of Mongolia and entry strategies synthetically. Therefore, more Korea corporations could not invest into Mongolia because of lack of information about mineral resources investment, and social recognition of Mongolia. Because Korea needs to secure mineral resources at national level, Korea really has to expand research about mineral resource of Mongolia.
Therefore, the main purpose of this study is to examine and analyze synthetically policy and institution of mineral resources and situation of foreign companies investing in Mongolia, and then it will be used to provide policy implications and new strategies for expanding entry of Korean companies that consider to invest into Mongolia. In other words, this study covers situation of mineral resources in Mongolia, minerals and related foreign investment policy of Mongolia, and entry situation and strategies of major countries into Mongolia, so it can contribute Overseas resource development policy of Korea to invest and participate in the mining development of Mongolia actively.
This research composes with 6 sections. After introduction, section 2 provides history, classified three periods, of mineral resource development in Mongolia in the period before 1990 when Mongolia started economic system reform. Section 3 analyzes synthetically situation of mineral resources and related policy of Mongolia including regulation and law, especially importance of mineral resource of international strategy of Mongolia is also analyzed. Topic of section 4 is major countries' such as Canada, Australia, Russia, China, US, Japan, and Europe development situation of mineral resource and entry strategies into Mongolia, so it and its comparative analysis can provide implications for Korea to invest into Mongolia. Section 5 examines mineral development cooperation between Korea and Mongolia and assesses their results, and also provides cases of success and failure that Korea companies invested into Mongolia for twenty years, then it can provide useful information to Korea corporations consider to enter into Mongolia. Finally, section 6 provides an effective counterplan to expand investment and development in Mongolia.
In short, this study suggests 7 ways to participate in development mining of Mongolia for Korea companies and contributes to establish investment policy of Korea government. The 7 ways are ① establishing a active support system of Korea government, ② linking entry of financial companies to development of mineral resources of Mongolia, ③ accompanying with mineral service and promising sectors, ④ linking constructing factories to development of mineral resources of Mongolia, ⑤ investment of package strategy that covers development of minerals and environment restoration, ⑥ analysis of mineral resource development strategies of major countries, ⑦ giving attention to enter into Mongolia for Korean companies. These also include concrete ways and detailed strategies.