President Lee Jae-myung stated on September 25 that the trade agreement between Korea and Mexico will serve as a solid foundation for enhancing economic cooperation between the two countries. He expressed hope that both governments would quickly resume discussions to robustly support the challenges faced by businesses and establish a mutually beneficial cooperation framework.
During his state visit to Mexico, President Lee made these remarks in a speech at the Korea-Mexico Business Forum held at the World Trade Center in Mexico City. He identified strengthening investment and advanced industry supply chain cooperation as the first priority for expanding economic collaboration.
The forum was attended by prominent figures including Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry and SK Group, Yoon Jin-sik, Chairman of the Korea International Trade Association, Koo Kwang-mo, Chairman of LG Group, Koo Ja-eun, Chairman of LS Group, and executives from major companies such as Samsung Electronics and Kia.
Also present were Park Sung-cheol, Vice Chairman of Doosan Bobcat, Namgung Hong, President of Samsung E&A, Lee Sun-joo, President of LG Household & Health Care, and Kim Jong-chul, CEO of Korea Aerospace Industries, among others. A total of 51 Korean companies and institutions participated, including representatives from the food industry, cosmetics, content, and entertainment sectors, as well as relevant organizations like KOTRA, the Korea Creative Content Agency, and the Korea Export-Import Bank.
On the Mexican side, attendees included Marcelo Ebrard, Minister of Economy, along with government and business leaders from various sectors, including finance, fintech, energy, manufacturing, logistics, customs, and legal affairs.
President Lee praised Mexico as a key pillar of the North American supply chain and a global production hub leading in advanced manufacturing sectors such as automotive, electronics, and aerospace. He referenced President Claudia Sheinbaum's strategy for enhancing industrial competitiveness, known as 'Plan Mexico,' noting that the world is paying attention to Mexico's dynamic role in the global supply chain.
He emphasized that for Korean companies, Mexico is not just a production base but an important strategic partner connecting them to North American and global markets. He stated that the unique manufacturing capabilities of Mexico, combined with Korea's proven technology and innovation, would open broader growth opportunities for both countries.
President Lee reiterated the necessity of a trade agreement as a foundational element of the economic relationship between the two nations. He expressed pride in the contributions of numerous Korean companies, including SK, Kia, Samsung, and LG, to Mexico's economic development and job creation. He highlighted Kia's recent large-scale investment as a milestone in their cooperation, moving beyond traditional manufacturing into the era of future mobility.
Despite these achievements, he noted that the economic relationship has yet to evolve into a comprehensive trade agreement. He stressed the need to strengthen the institutional foundation to allow businesses to expand confidently amid increasing uncertainties in the global trade environment.
Regarding changes in the North American trade environment, including the review of the US-Mexico-Canada Agreement (USMCA), President Lee called for joint responses from both countries' businesses. He acknowledged the challenges posed by uncertainties in the North American trade environment but suggested that collaboration could present a prime opportunity to seize the global market.
As a second area of cooperation, he proposed future industries and energy. He urged that the successful experiences built on traditional manufacturing should serve as a foundation to boldly expand cooperation into future industries such as bio, healthcare, and beauty, as well as digital innovation in energy, power, and infrastructure.
He noted that Korean companies are already investing in AI data centers, power systems, and electric vehicle production facilities in Mexico, and are collaborating with Mexican firms on energy projects like low-carbon and methanol initiatives.
President Lee also highlighted cultural and creative industries as a new pillar of economic cooperation. He remarked on the growing interest in K-culture, including K-pop, K-dramas, and K-food in Mexico, and the deepening appreciation of Mexican cuisine and cultural heritage among Koreans. He emphasized the need to expand exchanges and cooperation in cultural and creative industries, including content, food, fashion, beauty, and tourism.
He concluded by stating that Korea and Mexico have built deep friendship and trust over the past 60 years since establishing diplomatic relations in 1962. He urged both nations to use the valuable achievements of the past six decades as a stepping stone to open a new era of shared prosperity.
Chey Tae-won, in his welcoming remarks, stated that the combination of Mexico's solid manufacturing base and talented workforce with Korea's technology and investment capabilities could significantly enhance the potential for collaboration between the two countries. He expressed hope that the forum would serve as a catalyst for turning these possibilities into practical cooperation.
* This article has been translated by AI.
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