Lee concludes state visit to Mexico with 17 MOUs, vows to push bilateral trade agreement

MEXICO CITY — Korean President Lee Jae Myung on Saturday wrapped up a state visit to Mexico, where he held a bilateral summit with Mexican President Claudia Sheinbaum to strengthen supply chain cooperation and accelerate progress on a bilateral trade agreement.

The two sides signed 17 memorandums of understanding (MOU) and agreements in areas including mutual financial cooperation, AI, aerospace, defense, intellectual property, police intelligence, academic exchange and tourism.

On Thursday, Lee and Sheinbaum held their bilateral summit at the National Palace, attended an MOU signing ceremony and held a joint press appearance. They also hosted a business roundtable attended by some 30 officials and business leaders from the two countries. Korean attendees included chiefs of Korea’s top conglomerates, including LG Group Chairman Koo Kwang-mo.

During the state visit, Lee emphasized the need to conclude a Korea-Mexico trade agreement, calling it “crucial for expanding bilateral trade and investment” and for enabling a stable business environment.

The two leaders adopted the “2026–2030 Korea-Mexico Joint Action Plan,” setting the direction of bilateral cooperation for the next five years. The plan covered trade, finance, investment and development cooperation; AI and space; culture and education; agriculture and fisheries; defense and security; and anticorruption efforts.

Regarding supply chains, Lee said during a joint press briefing after the summit that 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 one of the world's largest oil producers. It is also a leading producer of fluorite, essential for the production of semiconductor chips and lithium-ion battery components.

On Friday, Lee attended a Korea-Mexico business forum at the World Trade Center attended by some 50 business leaders, including SK’s Chey Tae-won, LG’s Koo, Korea International Trade Association Chairman Yoon Jin-sik, LS Chairman Koo Ja-eun, Samsung Electronics CEO Roh Tae-moon, Kia CEO Song Ho-sung, Posco International CEO Lee Kye-in and Naver CEO Choi Soo-yeon.

“Mexico is a pivotal pillar of the North American supply chain and a global production hub leading high-tech manufacturing sectors such as automobiles, electronics and aerospace,” Lee said. “For Korean companies, Mexico is more than just a production base: It is a crucial strategic partner connecting North America with the global market.”

“Given the complementary nature of our industrial and economic structures, a trade agreement between Korea and Mexico would undoubtedly serve as a solid foundation for elevating our economic cooperation to the next level,” Lee added during the business forum.

Korea is hoping to conclude with Mexico a comprehensive economic partnership agreement (CEPA), a trade agreement designed to strengthen economic cooperation across trade, investment, industry and supply chains, a Blue House official told reporters Friday.

On Friday, Lee and first lady Kim Hea Kyung attended the Mexico K-Expo to encourage Korean companies and watch dance performances by K-pop enthusiasts.

Later Friday night, Lee and first lady Kim Hea Kyung watched a concert by the Korean boy band Stray Kids, an event celebrating cultural ties between Korea and Mexico, at Estadio GNP Seguros. They also met with 10 Mexican youths to discuss K-pop’s universal appeal.

Lee and Kim were set to arrive in Korea on Sunday, wrapping up a weeklong tour that had earlier taken them to New York for the UN General Assembly and a bilateral summit with U.S. President Donald Trump.

BY SARAH KIM [[email protected]]