Diplomatic relations between Kyrgyzstan and The Republic of Korea were established on 31 January in 1992. Political and economic relations between Kyrgyzstan and The Republic of Korea is a new topic for the study. That's why there are no books and dissertations on this topic. The aim of this paper is to analyze bilateral relations and find out the perspectives and obstacles of the economic cooperation which can really impact the economic development of the country. In order to research the

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... , the empirical and comparative methods of analysis were used. As a data sources were used papers of F. Matteo, M. Douglass, S. Chung, and C. Eshimbekov. «Saemaul Undong» or «The New Village Movement» is the South Korea's Rural Development Model for countries such as Kyrgyzstan. Kyrgyzstan has all conditions for applying the «The New Village Movement» program. First, Kyrgyzstan's an agrarian country. Second, 65% of the total population is the rural population. Third, about 1 931 000 people live below the poverty line in 2015. And, 67.7% of these people are rural settlements. So it means that by the financial support of the Korean International Cooperation Agency and the local government Korean rural development program can be implemented successfully in Kyrgyzstan. The perspective fields of economic cooperation between two countries are tourism, agriculture, textile industry, information technology and the mining. Some obstacles of the cooperation are the absence of direct flight Bishkek-Seoul, ineffective use of Korean investments and insufficient resources of information about Kyrgyzstan for Korean businessmen.