Industry Requests Supply Chain Cooperation with Mexico and Support for Busan Expo

Sangui Hosts Mexican Foreign Minister for 60th Anniversary of Diplomatic Relations
Korea-Mexico Business Roundtable Held
Major Companies Including Samsung Electronics, SK, Hyundai Motor, POSCO Attend
Discuss Corporate Challenges, Supply Chain, and Investment Cooperation

Seoul Jung-gu Korea Chamber of Commerce and Industry. / Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Donghoon Jeong] The Korea Chamber of Commerce and Industry (KCCI) announced on the 5th that it held the "Korea-Mexico Business Roundtable" by inviting Marcelo Ebrard, the Mexican Foreign Minister, who visited Korea to commemorate the 60th anniversary of diplomatic relations between Korea and Mexico.

At the BRT, about 10 executives from major domestic groups attended, including Woo Tae-hee, Executive Vice Chairman of KCCI; Kim Yoo-seok, Vice President of SK On; Lee Sang-jik, Head of Samsung Electronics Mexico Corporation; Kim Kyung-soo, Executive Director of Hyundai Motor Company; Heo Soon-jae, Executive Director of LG Electronics; Yoo Sam, Executive Director of POSCO; Robert Yoon, Vice President of Samsung Engineering; Park Hyun-chul, CEO of Winia Electronics; and Lee Sung-woo, Head of KCCI's International Trade Headquarters. They raised the difficulties faced by local companies to the Mexican government and proposed support measures.

On the Mexican side, about 20 people attended, including high-ranking government officials such as Foreign Minister Marcelo Ebrard, Deputy Foreign Minister Carmen Moreno Toscano, Ambassador Bruno Figueroa to Korea, and Javier D?vila, Director of Cooperation Policy, as well as fintech and startup entrepreneurs. The Korea Chamber of Commerce and Industry stated that they also discussed future cooperation tasks such as supply chain and green business cooperation and investment expansion.

Additionally, KCCI actively requested the Mexican Ministry of Foreign Affairs, the main department in charge of the Expo, to support Busan's bid to host the "2030 World Expo."

Minister Ebrard, who has been involved in politics for a long time, serving as Mayor of Mexico City and Deputy Foreign Minister, oversees Mexico's foreign and international affairs. He is known to have a strong interest in economic issues such as investment and trade, and it is reported that he actively expressed his intention to meet Korean companies during this visit.

Woo Tae-hee, Executive Vice Chairman of KCCI, who presided over the meeting, said in his congratulatory remarks, "Leading major companies such as Samsung Electronics, SK, Hyundai Motor Company, LG Electronics, POSCO, Samsung Engineering, and Winia Electronics, about 450 Korean companies have entered Mexico, contributing to the creation of over 150,000 jobs, achieving the second-largest investment amount in Asia in Mexico." He added, "As the global economic environment is rapidly changing after COVID-19, I hope to expand new cooperation bases between the two countries in areas such as supply chains and climate change response."

At the meeting, Korean companies presented their current investment status in Mexico, including the establishment and operation of local production plants, raised related difficulties, and announced achievements such as job creation. They also discussed specific ways to expand economic cooperation by proposing opinions for future-oriented cooperation between companies of both countries.

Lee Sung-woo, Head of KCCI's International Headquarters, said, "Mexico is a strategic hub connecting North and South America, and economic cooperation between the two countries is gaining momentum, such as the resumption of Korea-Mexico Free Trade Agreement (FTA) negotiations, which had been suspended for 14 years." He added, "Since supply chains are currently the biggest issue, we will strengthen related cooperation and continuously strive to enable our companies to enter and operate more actively."

This content was produced with the assistance of AI translation services.