Korean, Mexican leaders agree to launch dialogue on supply chains, deepen AI and defense ties

MEXICO CITY — Korean President Lee Jae Myung and Mexican President Claudia Sheinbaum agreed at a bilateral summit in Mexico City on Thursday to deepen cooperation on stable supply chains and in advanced sectors including AI, digital technology, aerospace and the defense industry.

“Amid growing uncertainty in the international landscape and the restructuring of global supply chains, Mexico is a crucial strategic partner for the Republic of Korea, being one of the world’s largest economies and a key global supply chain base,” Lee said in a joint press appearance alongside Sheinbaum after their talks.

Lee expressed his gratitude to Sheinbaum for her “significant support” in ensuring the stable supply of crude oil to Korea. He added that the two sides agreed to continue cooperation to ensure stable crude oil imports.

Regarding supply chains, Lee said the two sides agreed to launch a dialogue channel between their relevant ministries to discuss crude oil and other critical resources.

Mexico is the world’s largest producer of silver and the one of the largest oil producers in the world. It is also a leading producer of fluorite, essential for production of semiconductor chips and lithium-ion battery components.

Earlier Thursday, Sheinbaum greeted Lee in an official welcoming ceremony at the courtyard of the National Palace in Mexico City. The two leaders held summit talks and attended a signing ceremony for memorandums of understanding (MOU).

Through the summit, the two leaders announced the adoption of the “2026–2030 Korea-Mexico Joint Action Plan,” setting the direction of bilateral cooperation.

The two sides also agreed to “strengthen institutional foundation and bolster links in finance and supply chains to further expand bilateral trade and investment,” Lee said, during the joint press briefing.

They further agreed to broaden cooperation in cutting-edge fields of the future, such as AI and digital technology, aerospace and the defense industry.

He said this initiative aims to link the strategic industrial sectors prioritized by the Korean government with the development of new industries envisioned in "Plan Mexico," Sheinbaum’s economic development strategy.  

The sides will further “explore ways for Korea to contribute to Mexico’s ongoing military modernization efforts,” Lee said.

This comes as the Mexican air force has been considering Korea’s FA-50 fighters as it looks to modernize its aged fighter jets.

Lee asked Sheinbaum to help “facilitate the production of military equipment in Mexico through the application of Korea’s advanced defense technologies, thereby helping strengthen Mexico’s defense industry capabilities and enabling our two countries to jointly enter third-country markets.”

The Korean president also emphasized that it is essential for the two sides to conclude an economic agreement to expand bilateral trade and investment and “create a stable business environment.”

On the occasion of the summit, the two sides signed 17 MOUs and agreements in areas including mutual financial cooperation, AI, aerospace industry, defense matters, intellectual property, police intelligence, academic exchange and tourism.

The export-import banks of the two countries agreed to establish an Interbank Credit Facility of up to $100 million, enabling Mexican companies purchasing goods and services from Korean companies, as well as Korean businesses investing in Mexico, to receive financial support. The MOU on Mutual Financial Cooperation was signed between the Export-Import Bank of Korea and Bancomext, a Mexican state-owned bank and export credit agency.

Under the MOU for Cooperation on Defense Matters, Korea and Mexico will expand exchanges including sharing defense-related experiences, education, training and research and development.

Korea and Mexico will also continue pursue cooperation that yields “tangible achievements” across a range of areas, including trade, development cooperation, intellectual property rights, outer space, cultural heritage and education, Lee said.

Lee noted how the Mexican people are showing affection for Korean culture, extending from K-pop to K-beauty and K-food.

In the joint press briefing, Sheinbaum announced that the two sides agreed to build a center to support local activities related to Korean culture and K-pop.

“A Stray Kids concert is taking place tomorrow, and we are also looking forward to a visit by BTS in 2027,” she added, referring to the popular K-pop boy bands.

In May, Sheinbaum presented the BTS septet with a commemorative plaque from the Mexican government during their meeting at the presidential office.

“Mexico is a tried-and-true friend with shared values,” Lee said. “I look forward to our two countries opening a new chapter in our strategic partnership, building upon the discussions at today’s summit and the agreements reached.”

Lee noted that the summit in Mexico was meaningful as it coincided with Chuseok, Korea’s harvest festival.

On Wednesday, Lee arrived in Mexico for a three-day state visit, the second leg of a weeklong tour that earlier took him to New York for the UN General Assembly.

He is the first Korean president to make a state visit to Mexico in 16 years.

Earlier Thursday morning, Lee paid respects at the Altar a la Patria, a national memorial honoring Mexican patriots in Chapultepec Park in Mexico City. He laid a wreath and observed a moment of silence at the monument.

BY SARAH KIM [[email protected]]