The Ministry of Trade, Industry and Energy said trade minister Yeo Han-koo met Thursday with Carlos Penafiel Soto, Mexico’s ambassador to South Korea, to discuss ways to expand bilateral economic and trade cooperation.
The meeting came as uncertainty in the global trade environment deepens amid the spread of protectionism, and was arranged to explore broader cooperation with Mexico, South Korea’s largest trading partner in Latin America.
The two sides agreed a Korea-Mexico FTA could serve as a catalyst to boost trade and investment. They decided to continue high-level talks so negotiations, suspended since 2022, can restart as soon as possible.
Yeo also raised concerns from South Korean industry over key trade issues, including Mexico’s tariff increases that took effect in January and the planned July review of the U.S.-Mexico-Canada Agreement. He asked for special attention so South Korean companies operating in Mexico can continue business under stable conditions.
“Mexico is a key bridgehead for entering the Latin American market and integrating into USMCA supply chains,” Yeo said. “We will work closely to produce results that provide real help in expanding our companies’ exports and stabilizing their local operations.”
* This article has been translated by AI.
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