Mexico and South Korea are looking to take their economic relationship to a new stage, with an agenda that not only includes increasing trade and investment, but also strengthening supply chains, financing, local suppliers and access to strategic resources .
During South Korean President Lee Jae-myung ‘s state visit to Mexico, both countries 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.
For the logistics sector, one of the most far-reaching agreements between the two countries was to establish a communication channel to coordinate cooperation in supply chains, particularly those related to crude oil and critical natural resources .
The mechanism gains relevance in a context of greater fragmentation of international trade, in which companies seek to reduce vulnerabilities in the supply of raw materials and components.
Supply, one of the objectives
The agenda also included greater integration of Mexican companies into the supply chains of South Korean companies operating in the country.
Mexican President Claudia Sheinbaum noted that one of the agreements reached involved facilitating the participation of Mexican small and medium-sized enterprises (SMEs) in the supply chains of Korean companies , within the framework of the so-called Mexico Plan .
The objective is relevant due to the presence of Korean companies in Mexico. According to the Ministry of Foreign Affairs (SRE) , there are more than two thousand companies from that Asian country established in Mexico , participating in productive activities and generating jobs.
From a logistical perspective, this could translate into more diversified supply networks within the country and a greater demand for transport, storage and services associated with the supply of components.
Another economic agreement was the creation of a $100 million intermediary credit fund , aimed at facilitating financing for Mexican companies that acquire goods and services from Korean companies, as well as for Korean companies that invest in Mexico.
The financial tool can particularly favor transactions related to capital goods , machinery, components and services used by South Korean companies in the country.
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) .
The two countries concluded negotiations to update this instrument after seven years of talks that began in 2019. The original agreement was signed in 2000 and entered into force in 2002.
The update aims to establish a more transparent and stable investment environment while maintaining governments’ capacity to implement public policies. The next step will be to complete the legal review and carry out the necessary internal procedures for its signing and entry into force.
Mexico and South Korea are entering this new stage with a trade exchange that totaled $27 billion in 2025 , according to figures presented by Sheinbaum during the visit of the South Korean president.
However, data from the Ministry of Economy (SE) show a trade relationship with a significant imbalance for Mexico.
Between January and July 2026, Mexico exported $4,004 million to South Korea , while imports reached $17,739 million , resulting in a negative trade balance of $13,735 million for Mexico.
Korea seeks to leverage the Mexican platform
Lee Jae-myung identified opportunities for cooperation in the semiconductor, aerospace, and electric vehicle sectors , as well as artificial intelligence . He also highlighted the complementarity between the Mexican automotive industry and Korean capabilities in batteries and components for electric vehicles.
Cooperation in supply chains takes on a strategic dimension with the inclusion of crude oil and critical natural resources .
Lee noted that South Korea was able to expand its oil imports thanks to cooperation with Mexico and that both countries will establish a channel to discuss collaboration on supply chains related to these resources .
In parallel, one of the memoranda of understanding contemplates economic and industrial cooperation, including the creation of a joint committee at the directors level and the exchange of information on mineral resources.
For Mexico, the opportunity lies in transforming this demand for raw materials and strategic resources into stronger industrial ties. For Korea, the goal is to secure an additional source of supply in an international landscape characterized by logistical disruptions, geopolitical tensions, and competition for strategic minerals.
Customs and intellectual property
The agenda also included a component directly related to foreign trade .
Both governments 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.
According to a statement from the National Customs Agency of Mexico (ANAM) , Mexico and South Korea actively participate in various multilateral forums, particularly within the framework of the World Customs Organization (WCO) , where they share objectives related to customs modernization, risk management, process digitization, trade facilitation, and strengthening the security of supply chains .
The Memorandum of Understanding on Cooperation and Mutual Assistance in Customs with the Customs Service of the Republic of Korea (KCS) reflects the main interests of both administrations regarding the expedited exchange of information, institutional strengthening in ports, risk analysis, combating customs offenses and customs facilitation .
“The aim is to consolidate them through the use of advanced technologies, such as non-intrusive inspection equipment, the exchange of best practices and data analysis, as well as artificial intelligence, applied to customs management,” it was stated.
The meeting focused on strengthening information exchange between the two customs administrations, cooperation in combating drug trafficking, violations of intellectual property rights, and triangulated schemes for tax evasion.
A relationship that seeks greater integration
The agreements and the 2026-2030 Action Plan propose a broader bilateral relationship than current trade figures reflect.
On the one hand, South Korea represents a significant source of technology, components, capital goods, and investment for Mexico. On the other hand, Mexico offers Korean companies a manufacturing platform linked to North America.
Taken together, the agreements suggest that both countries are seeking to move from a relationship based primarily on the exchange of goods to a deeper integration of their production chains, at a time when the relationship between Mexico and the United States has become strained, despite the good bilateral trade performance.
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