Mexico and South Korea Pledge to Boost Strategic Alliance; President Lee Jae-myung Set to Visit

Mexico and South Korea wants to deepen their excellent bilateral relations and economic cooperation after a phone call between President Sheinbaum and President Lee Jae-myung, reported the Secretariat of Foreign Affairs. 

Both heads of state highlighted the complementarity between Mexico and South Korea, as well as "the potential to expand trade, investment, culture, energy and the exchange of views on global issues". 

President Lee Jae-myung emphasized the need to resume as soon as possible the negotiations on the Korea-Mexico Free Trade Agreement, “so the outcomes of this cooperation can lead to tangible benefits for the peoples of both countries,” he wrote on his X account regarding his phone conversation with President Sheinbaum.

South Korea is one of Mexico's main trading partners and investors with over 2,000 companies established in the North American nation.

South Korean Foreign Direct Investment (FDI) in Mexico has seen significant growth, with accumulated investment exceeding US$11.8 billion between 1999 and 2024. In 2024 alone, investment reached approximately US$1.3 billion, driven primarily by manufacturing, inter-company debt, and the reinvestment of earnings, according to DataMexico.

President Lee Jae Myung  accepted President Shainbaum's invitation to  visit Mexico this year; details and date are yet to be decided.