During South Korean President Lee Jae-myung’s state visit to Mexico last week, it was reported that the relationship between the two countries seeks to deepen economic cooperation with an emphasis on investment, local suppliers, and strengthening supply chains .
In that context, it was announced that the company HS Hyosung is preparing a large-scale investment in San Luis Potosí to establish a production base for advanced materials , as part of a strategy to expand its presence in North America, according to Korean media.
The project will begin development in 2027 and will be implemented gradually, following the signing of a memorandum of understanding with the government of San Luis Potosí , within the framework of the Korea-Mexico Business Forum, held in Mexico City on September 25.
“This investment is a strategy to transform Mexico not into a mere production base, but into a key outpost connecting North America with the global market,” said Sung Nak-yang, CEO of HS Hyosung Advanced Materials.
Although HS Hyosung generally refers to an advanced materials base, Mexico’s Ministry of Economy (SE) specified that the company seeks to expand its automotive carpet business in San Luis Potosí .
The event was attended by Marcelo Ebrard , head of the SE; and Mario García Valdez , Secretary of Economic Development of San Luis Potosí.
The investment would expand HS Hyosung Advanced Materials ‘ existing manufacturing presence in Mexico . According to its global network, the company has airbag production facilities in Torreón, Coahuila, and Ensenada, Baja California .
So far, the amount of the investment, the capacity of the new operation, and the number of jobs it will generate have not been disclosed.
The projected investment comes in a context where Mexico and South Korea signed the Mexico-Korea Joint Action Plan 2026-2030 , in addition to 17 memoranda of understanding on matters such as economic and financial cooperation, science and technology, aerospace, agriculture, intellectual property, tourism and security, on September 24
Both governments also agreed to establish a new institutional framework for the protection of intellectual property rights and to promote the exchange of information on unauthorized goods at customs.
Lee Jae-myung ‘s visit to Mexico also included the modernization of the Mexico-Korea Agreement for the Promotion and Reciprocal Protection of Investments (APPRI) .
It is worth remembering that trade between Mexico and South Korea totaled 27 billion dollars in 2025 , according to figures presented by the president of Mexico, Claudia Sheinbaum, during the visit of the South Korean president.
*The main image was created using artificial intelligence.
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