South Korea and Mexico sign agreement for cooperation until 2030 on oil, defense, AI and raw materials

South Korea and Mexico have adopted a joint action plan to strengthen bilateral cooperation until 2030, with a focus on oil, defense, artificial intelligence and strategic raw materials. The agreement was announced by presidents Lee Jae-myung and Claudia Sheinbaum at the end of the summit in Mexico City, where 17 agreements in the economic, industrial, technological and military fields were signed.

The two countries also concluded negotiations to update the bilateral investment treaty, with the aim of facilitating trade and attracting capital. A channel of dialogue on supply chains for oil and critical resources is planned. Seoul will also contribute to the modernization of the Mexican armed forces through exchanges of experience in training, research and development of defense industry technologies. In 2025, bilateral trade reached $27 billion, according to Sheinbaum.