South Korea and Mexico sign 17 cooperation agreements covering trade, AI, minerals, defence, aerospace, space and public security, while advancing talks on a bilateral trade agreement and a $100 million financing facility.
South Korea and Mexico have signed 17 memoranda of understanding and other cooperation documents covering trade, industry, artificial intelligence, defence, aerospace, space and public security during South Korean President Lee Jae Myung’s state visit to Mexico. The agreements were concluded during a summit with Mexican President Claudia Sheinbaum in Mexico City.
The two countries also agreed to accelerate efforts toward a bilateral trade agreement. Under an Economic, Industrial and Resource Cooperation Initiative, Seoul and Mexico City will establish a director-general-level joint committee and working groups to coordinate cooperation. The framework includes exchanging information on mineral resources and sharing sustainable mining technologies and expertise.
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AI emerged as another key area of cooperation. The two sides adopted a Joint AI Cooperation Declaration establishing shared principles for collaboration and positioning Mexico as a Latin American partner in implementing the APEC AI Initiative led by South Korea. The countries also intend to expand cooperation as AI adoption and related markets develop.
Financial cooperation will receive additional support through a $100 million on-lending credit facility agreed between the Export-Import Bank of Korea and Mexico’s Bancomext. The facility will support Mexican companies importing Korean goods and services and Korean companies expanding their operations in Mexico, with priority sectors including information and communications technology, automobiles and biotechnology.
Defence and aerospace cooperation also featured prominently. A defence cooperation MoU covers military education and training, defence research and development and defence-industry cooperation. The two countries will explore opportunities connected with Mexico’s military modernisation and maritime security requirements.
In the aerospace sector, Korea Aerospace Industries and POSCO International signed an agreement with Mexico’s aerospace industry association covering the operation and maintenance of FA-50 aircraft, unmanned aerial vehicles and satellites. The parties will also examine opportunities to establish local supply chains and potentially produce aerospace products in Mexico.
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The countries additionally agreed to establish a framework for peaceful cooperation in outer space, covering space science, communications, launch systems and technology development. Cooperation will also expand into agriculture, customs, intellectual property, anti-corruption and public security.
The latest agreements broaden South Korea-Mexico cooperation beyond trade and investment, creating new institutional mechanisms for collaboration across technology, resources, defence, aerospace and cultural sectors.