Field of mineral resources development between South and North Korea has to be crafted as a strategy for a business cooperative investment. There have been increased limitations not only in the development of underground resources but also most of the investments made in North Korea owing to insufficient systems and cost increase generated by lack of infrastructure. The laws or agreements in North Korea related to the regulation of economic cooperation between South and North are one of obstacles. However this paper compared industry of mineral resources in South and North Korea and showed Field of mineral resources development between South and North Korea is win-win strategy for both sides. And considerable obstacles in cooperative investment were analyzed in this paper. This paper analyzed three measurement of cooperation to development underground resources between South and North Korea, which is cooperation based on infrastructure, improved of laws and systems, and financing. As policy implication, this paper mentioned that more positive positions toward the mineral investments to North Korea are required since the resource development businesses have always various risks and institutional barriers also in many other resource rich countries. The government role in this system should include policies to attract investors and institutional support for reducing investment risks.