President Lee Jae-myung presides over a meeting with President Sheinbaum and businessmen during his visit to Mexico... Promise of support for ‘Plan Mexico’

President Lee Jae-myung made a state visit to Mexico on the 24th (local time) and jointly presided over a meeting with businessmen with Mexican President Claudia Sheinbaum and discussed ways to promote investment and exchange between companies from the two countries.

At this meeting held at the Mexican Presidential Palace, about 30 people, including SK Group Chairman Chey Tae-won, who is also the Chairman of the Korea Chamber of Commerce and Industry, and LG Group Chairman Koo Kwang-mo, as well as nine Korean businessmen and high-ranking officials from both countries, attended, Ki-hong Ki, Senior Secretary to the Blue House for Public Relations and Communication, reported in a written briefing.

President Lee first defined the two countries as indispensable strategic partners for each other, emphasizing that now is the right time to further develop economic cooperation between the two countries in a situation where uncertainty in the world economy is growing and the global supply chain is rapidly changing.

In particular, Korea expressed its intention to contribute as a partner to ensure the success of 'Plan Mexico', a vision for strengthening industrial competitiveness and expanding infrastructure announced by President Sheinbaum last year.

Korean businessmen highlighted that Korean companies have fostered high value-added manufacturing industries through steady investment in Mexico over several decades and have contributed to fostering the industrial ecosystem in Mexico by strengthening the local supply chain.

He then explained that economic cooperation between the two countries is expanding beyond traditional fields such as automobiles and home appliances to include power and energy, mobility, advanced materials, food, and beauty.

They especially emphasized that Mexico is not just a production base, but a key bridgehead for entering the North American and Central and South American markets, and expressed hope that an economic agreement between Korea and Mexico will be concluded as soon as possible so that economic cooperation between the two countries can be institutionally supported.

Businessmen also said that uncertainty in business activities in Mexico is increasing due to the current review of the United States-Mexico-Canada Agreement (USMCA), and requested that the Mexican government take interest in ensuring the stability of business.