Korea, Mexico deepen business push into AI, aerospace and energy - Korea JoongAng Daily

Korea, Mexico deepen business push into AI, aerospace and energy

Leaders and executives signed new agreements and began trade deal discussions during President Lee Jae Myung’s state visit to Mexico.

SK Group Chairman Chey Tae-won, who is also the chairman of the Korea Chamber of Commerce and Industry, speaks at a Korea-Mexico business forum in Mexico City on Sept. 25.

NEWS1

Korea and Mexico are expanding business ties beyond their traditional focus on automobiles, electronics and steel to embrace emerging sectors such as AI, aerospace and energy.

The Korea Chamber of Commerce and Industry (KCCI) held a Korea-Mexico business forum at the World Trade Center in Mexico City on Friday during Korean President Lee Jae Myung’s state visit to Mexico. Around 300 government and business representatives from the two countries attended the event, which was jointly hosted with Mexico’s Business Coordinating Council and the Mexican Business Council for Foreign Trade, Investment and Technology (Comce).

Attendees from Korea included Lee, KCCI and SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo, LS Group Chairman Koo Ja-eun, Samsung Electronics President Roh Tae-moon and Kia President Song Ho-sung.

“Mexico is a key country in Latin America and an important economic hub with outstanding access to global markets,” Chey said in his welcoming remarks. “I hope this forum will serve as a starting point for opening new avenues of growth by bringing together the strengths of our two countries.”

The forum discussed cooperation in three areas: advanced industries and supply chains; emerging industries; and energy and cultural and creative industries. The discussions sought to identify business opportunities in areas including AI, digital technology and cultural content by building on the countries’ existing manufacturing ties.

Concrete agreements were reached in the aerospace and automotive materials sectors.

Posco International and Korea Aerospace Industries (KAI) signed memorandums of understanding (MOU) with Mexico’s aerospace industry federation to pursue opportunities for Korean aerospace companies in the Mexican market, while HS Hyosung Advanced Materials signed an investment MOU with the Mexican state of San Luis Potosí to establish a production base for automotive carpeting.

In AI, participants discussed ways to connect Korea’s technological capabilities with Mexico’s industrial base. Naver chief data officer Kim Kwang-hyun highlighted the need to develop sovereign AI capabilities that reflect a country’s language, data and industrial characteristics, as well as AI factory infrastructure to support them.

In music, video and gaming, participants discussed expanding cooperation beyond content exports to discovering local talent, co-productions and connections involving intellectual property and platforms.

The KCCI and the Comce also signed an MOU to expand business exchanges and opportunities in advanced industries and digital sectors.

The two governments are also preparing discussions on a trade agreement. Industry Minister Kim Jung-kwan and Mexican Economy Secretary Marcelo Ebrard agreed during Lee’s visit to launch a joint study examining the potential economic benefits and effects of a trade agreement for both countries, according to the Ministry of Trade, Industry and Resources.

BY PARK YOUNG-WOO [yoon.soyeon@joongang.co.kr]

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.