SK Group Chairman Chey Tae-won and LG Group Chairman Koo Kwang-mo, along with other South Korean business leaders, expressed their commitment to actively participate in Mexico's industrial competitiveness strategy known as 'Plan Mexico.' Chey proposed collaboration in the vaccine and national immunization sectors, while Koo outlined plans to expand local investments in automotive electronics and autonomous driving.
A senior official from the Blue House shared these details with reporters following a briefing in Mexico City on September 24, where President Lee Jae-myung and Mexico City Mayor Claudia Sheinbaum co-chaired a meeting with business leaders.
The official stated, "Business leaders introduced their current operations in Mexico and discussed future business plans." They emphasized their intention to contribute to 'Plan Mexico,' which aims to enhance the country's industrial competitiveness, while pursuing their own corporate interests.
Chey Tae-won reportedly outlined plans to expand cooperation with Mexico in the bio and vaccine sectors. The official noted, "He mentioned enhancing Mexico's national immunization program and collaborating on vaccine quality management capabilities." This initiative aims to leverage SK Group's expertise in vaccines and biotechnology to strengthen Mexico's health and bio industry.
Koo Kwang-mo presented plans to increase investments in future mobility sectors, including automotive electronics and autonomous driving. The official remarked, "LG also discussed plans to expand investments in automotive electronic systems and autonomous driving, detailing their business plans to further develop their existing production base in Mexico."
Business leaders view Mexico not just as a local production base but as a strategic hub targeting both North and South American markets. They highlighted the potential to link the Sheinbaum administration's 'Plan Mexico' with the advanced manufacturing, bio, and mobility competitiveness of South Korean companies, thereby contributing to the local industrial ecosystem and supply chain.
During the meeting, business leaders raised concerns about increasing uncertainties in local operations due to the review of the United States-Mexico-Canada Agreement (USMCA) and requested the establishment of a stable business environment. They conveyed hopes for a timely economic agreement to institutionalize economic cooperation between the two countries.
The Blue House official indicated that discussions on tariffs and local business challenges faced by South Korean companies were also addressed during the summit. He added, "We have listened to and organized the concerns of businesses, and we will continue follow-up discussions with the Mexican side."
* This article has been translated by AI.
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