President Lee Jae-myung and Mexican President Claudia Sheinbaum met on September 24 to discuss ways to enhance economic cooperation between their countries. Korean business leaders highlighted Mexico's role as a key gateway to North and Central American markets, urging for the swift conclusion of the Korea-Mexico economic agreement and the establishment of a stable business environment.
During his state visit to Mexico, President Lee co-hosted a business meeting at the Mexican presidential palace with President Sheinbaum.
According to a written briefing by Sung Ki-hong, chief of public relations at the Blue House, the meeting included nine prominent Korean business leaders, such as Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry, Koo Kwang-mo, chairman of LG Group, and Koo Ja-eun, chairman of LS Group, along with over 30 senior officials from both governments. Notable attendees from Samsung Electronics included President Roh Tae-moon, and from Kia, President Song Ho-sung. Other participants included Lee Gye-in, president of POSCO International, Park Seong-cheol, vice chairman of Doosan Bobcat, Kim Seung-hwan, CEO of Amorepacific, and Cho Yong-cheol, CEO of Nongshim.
President Lee emphasized that Korea and Mexico are indispensable strategic partners. He noted the increasing uncertainty in the global economy and the rapid restructuring of global supply chains, stating that now is the opportune time to advance economic cooperation between the two nations.
He expressed Korea's commitment to supporting the success of 'Plan Mexico,' an initiative announced by President Sheinbaum last year aimed at enhancing industrial competitiveness and infrastructure development.
Korean business leaders explained that their long-term investments in Mexico have fostered high-value manufacturing and contributed to strengthening local supply chains and developing the regional industrial ecosystem.
They also highlighted the expansion of economic cooperation beyond traditional sectors like automotive and electronics to include power and energy, mobility, advanced materials, food, and beauty.
The business leaders expressed their support for the Mexican government's 'Plan Mexico,' indicating their willingness to actively participate in its initiatives.
They particularly emphasized that Mexico is becoming a crucial hub for Korean companies, extending beyond mere production bases to serve as gateways to North and Central American markets.
Korean business leaders urged the importance of creating a stable business environment as the scope of economic cooperation expands beyond Mexico to include North and Central American markets. They also called for the swift conclusion of the Korea-Mexico economic agreement to institutionalize bilateral economic cooperation.
Concerns were raised regarding the increasing uncertainty in business activities in Mexico due to the ongoing review of the United States-Mexico-Canada Agreement (USMCA). The business leaders recommended that the Mexican government pay attention to ensuring business stability for companies operating locally.
Earlier, during their summit, President Lee and President Sheinbaum discussed the need for a trade agreement to expand trade and investment between the two countries and create a stable business environment. They agreed to conduct joint research between their trade authorities to explore ways to enhance mutually beneficial economic cooperation.
* This article has been translated by AI.
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