A Comparative Analysis of Foreign Investment Promotion Systems of Korea and Mongolia Focusing on Foreign Investment Laws

Foreign investment promotion system of the country is commonly represented by its laws on foreign investment. To have an effective investment promotion system, shortcomings of the foreign investment law should be identified, and this might get available through a comparative study with advanced ones. This paper aims to identify features and shortcomings of the Foreign Investment Law of Mongolia (FILM) through comparison with the Foreign Investment Promotion Act (FIPA) of Korea, and give suggestions on remedying the identified shortcomings. To this end, this paper conducts a comparative analysis in three strands: general provisions, measures for supporting foreign investment, and follow-up management of foreign investment.