Chey Tae-won and Koo Kwang-mo Attend Lee-Sheinbaum Meeting; USMCA Uncertainty Discussed

Financial News, Mexico City, Mexico — Reporter Choi Jong-geunPresident Lee Jae Myung, who is on a state visit to Mexico, co-hosted a business leaders' meeting with Mexican President Claudia Sheinbaum at the Mexican presidential palace on the 24th (local time).
About 30 people, including nine Korean business leaders such as Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry and SK Group, and Koo Kwang-mo, chairman of LG Group, as well as senior government officials from both countries, attended.
According to Sung Ki-hong, senior secretary for public relations and communication at the Presidential Office, President Lee described South Korea's relationship with Mexico as a mutually indispensable strategic partnership. He said the two countries should expand the breadth and depth of their economic cooperation as external economic conditions and supply chain arrangements change rapidly.
Lee also expressed South Korea's willingness to participate as a key partner in Plan Mexico, the initiative unveiled by President Sheinbaum last year to enhance industrial competitiveness and expand infrastructure, and to help deliver results.

The Korean business leaders who attended the meeting said they had continued making long-term investments in Mexico, contributing to the advancement of local manufacturing and the development of supply chains. They also noted that cooperation between the two countries had expanded beyond automobiles and home appliances to include a range of industries such as power and energy, mobility, advanced materials, food and beauty.
They said Plan Mexico aligns with the expansion of Korean companies' businesses and expressed their willingness to participate actively. They also emphasized the need to create conditions in which companies can operate stably, noting that Mexico is becoming increasingly important as a strategic hub linking North American and Latin American markets, rather than merely a production base.
In particular, the business leaders said they hoped an economic agreement would be concluded promptly to provide institutional support for economic cooperation between the two countries.
They also said that uncertainty surrounding the review of the United States-Mexico-Canada Agreement (USMCA) was weighing on business activities in Mexico and asked the Mexican government to help create a predictable business environment.
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