Lee Jae-myung Calls for Comprehensive Korea-Mexico Trade Agreement

President Lee Jae-myung, during his state visit to Mexico on the 25th (local time), called for a comprehensive trade agreement between the two countries (a trade pact covering tariffs, investment, and more) in a speech at the Korea-Mexico Business Forum held at the World Trade Center in Mexico City. "Given the complementary industrial and economic structures of the two countries, a trade agreement will serve as a solid foundation for taking economic cooperation to the next level," President Lee said.

President Lee noted that "despite remarkable achievements in cooperation, the economic relationship between the two countries has yet to advance toward a comprehensive trade agreement." Korea-Mexico free trade agreement (FTA, a pact to lower trade barriers such as tariffs) negotiations were suspended in 2006, and although the two sides agreed in 2022 to resume them, a deal has yet to be reached.

President Lee also placed emphasis on cultural exchange, noting that interest in K-pop, K-dramas, and K-food is growing by the day in Mexico, while Koreans are likewise falling for the charms of Mexican cuisine and cultural heritage. "When the creativity and cultural appeal of the two countries combine with business, it will open attractive markets for companies and provide quality opportunities for challenge to young people in both Korea and Mexico," President Lee said.