Two countries also agree to cooperate on local supply chains for the FA-50 and other platforms

President Lee Jae Myung walks alongside Mexican President Claudia Sheinbaum during an official welcoming ceremony at the National Palace in Mexico City on Thursday (local time), as Lee makes a state visit to Mexico. [Yonhap]
President Lee Jae Myung walks alongside Mexican President Claudia Sheinbaum during an official welcoming ceremony at the National Palace in Mexico City on Thursday (local time), as Lee makes a state visit to Mexico. [Yonhap]

South Korea and Mexico signed 17 memoranda of understanding and cooperation documents Thursday (local time), as President Lee Jae Myung made a state visit to Mexico City, with the two countries agreeing to accelerate negotiations toward a bilateral trade agreement.

Under an "Economic, Industrial and Resource Cooperation Initiative," the two sides will establish a director-general-level joint committee and operate working-level groups. They also plan to exchange statistics and information on mineral resources and share sustainable mining technologies and experience — steps officials said would lay an institutional foundation for broader industrial cooperation and help advance a bilateral trade deal.

A joint "AI Cooperation Declaration" established shared principles for artificial intelligence cooperation reflecting the concept of a "global AI-based society." The agreement is aimed at securing Mexico as a key Latin American partner for implementing the APEC AI Initiative, which South Korea led to adoption last November, while building a foothold in what Seoul sees as a promising emerging AI market.

The Export-Import Bank of Korea and Mexico's Bancomext agreed to set up a new $100 million on-lending credit line, targeting priority sectors including ICT, automobiles and biotech. The facility is designed to provide financing for Mexican companies importing South Korean goods and services, as well as Korean firms expanding into the Mexican market.

The two countries also broadened cooperation in defense and space. Under a defense cooperation MOU, they agreed to identify areas requiring collaboration — including military education and training, defense research and development, and the defense industry — and to explore opportunities tied to Mexico's military modernization and maritime security needs.

In the space sector, the two sides will build a framework for cooperation on the peaceful exploration and use of outer space, covering space science, information and communications, launch systems and technology development.

Korea Aerospace Industries and POSCO International signed an MOU with Mexico's aerospace industry association to cooperate on the operation and maintenance of the FA-50 light combat aircraft, unmanned aerial vehicles and satellites, as well as on building local supply chains. The parties will also explore the possibility of industrial cooperation for local production in Mexico of aerospace products developed and manufactured by KAI.

Cultural and tourism exchanges will also expand. The two countries agreed to broaden their cultural cooperation — previously centered on film and publishing — to encompass the cultural and creative industries, the arts and cultural institutions, and to pursue joint creation, co-production and talent development. A working group will be established to promote greater use of cultural facilities such as K-Culture Centers.

Separate MOUs were signed covering agricultural technology, customs, anti-corruption, electronic certification for imported livestock products, intellectual property and public security. On customs, the two sides agreed to step up the sharing of risk intelligence on narcotics, counterfeit goods infringing intellectual property rights and trade circumvention. On public security, they committed to jointly combating transnational crime and cooperating on the arrest and extradition of fugitives.


sang@heraldcorp.com