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Industry Ministry discusses Latin American trade talks with key companies

Published: 02 Apr. 2026, 18:02

The logo of the Ministry of Trade, Industry and Resources in Sejong [YONHAP]

The Ministry of Trade, Industry and Resources held a meeting on Thursday with key companies with operations in Latin America to discuss issues surrounding Seoul's trade negotiations with regional partners, officials said.

The meeting involving representatives from the automobile, steel and home appliance sectors was held amid Seoul's push to forge trade agreements with Mexico and the South American trade bloc referred to as Mercosur.

Mercosur is the largest economic bloc in Latin America, comprising Argentina, Brazil, Paraguay and Uruguay, with a combined population of 290 million and gross domestic product of $2.7 trillion.

Korea and Mercosur have held seven rounds of trade negotiations since 2018, but the talks have stalled since the latest round held in August 2021. Talks with Mexico have also stalled due to domestic opposition.

The ministry said it will work to reach trade agreements with Mexico and Mercosur to help diversify export markets for Korean companies.

Yonhap