President Lee Jae-myung has used his recent 5-night, 7-day trip to New York and Mexico to promote his vision for peace on the Korean Peninsula and to broaden economic and trade cooperation with Mexico, extending into areas such as artificial intelligence (AI), space, and defense.
In New York, he emphasized multilateral diplomacy focused on peace, proposing the resumption of North Korea-U.S. dialogue and a phased denuclearization plan. During a meeting with U.S. President Donald Trump, he addressed significant issues including U.S. investment, the transfer of wartime operational control, and nuclear-powered submarines.
During his first state visit to Mexico in 16 years, President Lee expanded the scope of cooperation beyond trade and investment to include future advanced industries and cultural exchanges. The leaders established a framework to connect agreements made during their meeting through a '2026-2030 Korea-Mexico Joint Action Plan.'
According to the Blue House on the 27th, the diplomatic focus varied significantly between the two locations. While the key themes in New York were 'peace and multilateral diplomacy,' in Mexico, the emphasis was on 'economy and practicality.'
Seong Gi-hong, the Blue House's chief of public relations, stated on the 25th in a briefing at a press center in Mexico City, "We elevated our status as a global responsible power on the multilateral stage and expanded the international community's understanding and support for our policy of peaceful coexistence on the Korean Peninsula."
Seong noted that President Lee's visit to the U.N. General Assembly was an opportunity to actively engage in comprehensive diplomacy for national interests, as it marked the second consecutive year a South Korean leader attended the world's largest multilateral diplomatic forum. He added that the meetings with President Trump and Australian Prime Minister Anthony Albanese strengthened international support for South Korea's policies regarding the Korean Peninsula.
On September 22, during his keynote address at the 81st U.N. General Assembly, President Lee urged for the swift resumption of North Korea-U.S. dialogue, which has been stalled for an extended period.
He proposed a phased approach that first halts North Korea's nuclear and missile capabilities, then reduces them in the medium term, ultimately aiming for a 'nuclear-free Korean Peninsula' in the long term. South Korea reaffirmed its commitment to act as a 'facilitator' for North Korea-U.S. dialogue.
The most anticipated aspect of the New York schedule was whether a meeting with President Trump would take place.
Although not initially scheduled, the meeting was arranged dramatically as negotiations progressed on a $350 billion investment deal.
The two leaders discussed various economic and security issues, including U.S. investment, cooperation on North Korea, a nuclear agreement, nuclear-powered submarines, and the transfer of wartime operational control, for about 30 minutes.
The issue of transferring operational control was raised at the presidential level for the first time during the current administration, with President Trump requesting follow-up discussions after hearing related details, according to the Blue House.
The need for nuclear-powered submarines was also explained as a conventional deterrent against North Korea's nuclear and missile threats.
Economic diplomacy was another key focus during the New York visit. President Lee addressed Wall Street investors at the 'Korea Investment Summit 2026,' outlining South Korea's growth strategies and capital market reforms while requesting increased investment.
He highlighted that Hanwha's investment in a U.S. shipyard would lead to the construction of strategic vessels, showcasing Korea-U.S. shipbuilding cooperation as a prime example of industrial collaboration.
During his state visit to Mexico, the first in 16 years for a South Korean president, President Lee emphasized economic and trade issues.
In a meeting with President Claudia Sheinbaum, he adopted the '2026-2030 Korea-Mexico Joint Action Plan,' aiming to connect the strategic partnership between the two countries with practical economic and industrial cooperation.
The two nations resolved issues in the ongoing negotiations to amend their investment protection agreement, and they agreed to pursue a financing deal of up to $100 million between their export-import banks.
Cooperation was also expanded to include areas such as economy, industry, resources, customs, education, culture, AI, digital technology, aerospace, and defense.
To ensure that this does not become a one-time diplomatic engagement, mechanisms for implementation were established. The two countries will hold regular high-level policy consultations between their foreign ministries and will resume the joint committee on economic, scientific, and technological cooperation, which has been inactive since 2015, in 2027 in South Korea, with plans to meet annually thereafter.
A key task for Mexico's economic diplomacy is trade agreements.
President Lee repeatedly emphasized the need for a trade agreement to support stable trade and investment between the two countries during the summit and business forum.
The proposal aims to combine Mexico's manufacturing base and access to the North American market with South Korea's advanced technological competitiveness to jointly enter global markets beyond North America.
The government plans to study the mutual benefits of economic cooperation encompassing trade, investment, industry, and supply chains, especially as Mexico is reviewing the United States-Mexico-Canada Agreement (USMCA), before determining the next steps in negotiations.
Changes in origin regulations and tariffs under the USMCA could directly impact the utilization of Mexican production bases by South Korean companies and their access to the North American market, making it a significant variable in future negotiations.
The business community is also aligning with the government's diplomatic efforts.
Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry (and SK Group chairman), expressed a willingness to cooperate in strengthening Mexico's national vaccination and vaccine quality management capabilities, while Koo Kwang-mo, chairman of LG Group, unveiled plans to expand investments in electric vehicles and autonomous driving.
The cultural sector has emerged as a new pillar of economic diplomacy.
At the K-Expo in Mexico, 120 Korean companies and institutions participated. During the event, contracts worth $12.5 million were signed in 34 transactions over a single day, confirming the potential for K-beauty, K-food, and K-content in the Latin American market.
Seong noted that President Lee's state visit to Mexico marked a significant turning point in establishing a strategic partnership with Mexico, a key political, economic, and diplomatic player in Latin America.
* This article has been translated by AI.
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