The Korea Times
Yeo Han-koo, Korea's trade minister, met Thursday with Carlos Penafiel Soto, Mexico's ambassador to Korea, to discuss ways to expand economic and trade cooperation between the two countries. The meeting comes amid growing uncertainty in the global trade environment driven by the spread of protectionism. Mexico is Korea's largest trading partner in Latin America, and both sides said they sought to explore cooperation amid the challenging conditions. The two officials agreed that a Korea-Mexico free trade agreement will serve as a catalyst for activating bilateral trade and investments and pledged to continue high-level consultations to resume negotiations, which have been stalled since 2022, as soon as possible. Yeo conveyed concerns from Korean businesses over Mexico’s tariff increases that took effect in January, as well as the scheduled July review of the United States-Mexico-Canada Agreement (USMCA). He urged the Mexican side to ensure that Korean companies operating in Mexico can continue their business activities under stable and predictable conditions. "Mexico is a key gateway fo
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