Two countries to pursue establishment of 'K Culture Center,' other initiatives

President Lee Jae Myung and first lady Kim Hye-kyung disembark from Air Force One at Felipe Angeles International Airport in Mexico City on Wednesday (local time) at the start of a state visit to Mexico. [Yonhap]
President Lee Jae Myung and first lady Kim Hye-kyung disembark from Air Force One at Felipe Angeles International Airport in Mexico City on Wednesday (local time) at the start of a state visit to Mexico. [Yonhap]

President Lee Jae Myung said Wednesday (local time) that his state visit to Mexico would serve as an opportunity to resume bilateral economic agreement negotiations between the two countries.

Lee raised the need to push forward at the summit level on a free trade agreement between South Korea and Mexico — talks that stalled despite both sides agreeing to restart them in 2022.

In an interview with Mexican daily El Universal, Lee said it was important to pursue a social security agreement and strengthen the investment protection regime. "Through this, we will be able to create a more stable and secure environment for businesses and citizens of both countries," he said.

He added that he was confident the two countries could develop their relationship in a more solid, sustainable and mutually beneficial direction "if the institutional foundation becomes stronger."

Lee said he was particularly focused on the electric vehicle sector as an area of significant cooperation potential. "If Mexico's world-class automotive industry base and supply chain are combined with South Korea's battery and EV parts competitiveness, great synergy will emerge and opportunities to expand cooperation will follow," he said.

He pointed to Kia's recent large-scale investment in an electric vehicle production factory in the Mexican state of Nuevo León as a prime example of bilateral cooperation.

Lee said that for South Korean companies, Mexico is "more than just a production base — it is a key strategic hub for entering the North American and global markets."

He said about 500 South Korean companies have invested approximately $13.3 billion in Mexico, creating 150,000 jobs and contributing to the country's development. "I hope South Korean companies will continue to grow alongside Mexico and contribute to the shared prosperity of both countries through investment and community engagement," he said.

Lee also said Mexico is "a key pillar connecting the North American and Latin American economies, backed by a solid manufacturing base and abundant human resources," and that "it is time to build an institutional framework befitting robust economic cooperation."

Mexico is a major market with a population of about 130 million and a GDP of $1.8 trillion, and serves as a critical gateway to the North American market. It is South Korea's top trading and investment destination in Latin America, with about 560 South Korean companies actively operating there.

On defense, Lee said South Korea's FA-50 fighter jet "can lay the groundwork for mutually beneficial cooperation based on its outstanding performance and price competitiveness" in Mexico's air force modernization project.

Lee also highlighted the need for cultural cooperation, referencing BTS's meeting with Mexican President Claudia Sheinbaum in May, during which the group received a commemorative plaque from the Mexican government. "Mexico and South Korea are separated by more than 10,000 kilometers across the Pacific, but culture has contributed to bringing the people of both countries closer together," he said.

The two countries agreed to pursue joint production in cultural content and the arts, build a mechanism for training specialists in those fields, and establish a "K Culture Center" — a dedicated space for experiencing Korean culture.


sang@heraldcorp.com