President Lee Jae Myung (left) and Mexican President Claudia Sheinbaum on Sept. 24 shake hands after their joint news conference at the National Palace in Mexico City.

By Xu Aiying
Photos = Cheong Wa Dae

The Korea-Mexico Joint Action Plan 2026-2030 outlines the direction of bilateral cooperation, with both countries agreeing to expand collaboration beyond trade and investment, finance and supply chains to advanced future high-tech sectors such as artificial intelligence (AI), digital and aerospace.

This was the fruit of the state visit to Mexico by President Lee Jae Myung, who on Sept. 24 attended a summit with Mexican President Claudia Sheinbaum at the National Palace in Mexico City.

Both leaders agreed to raise the institutional cooperation needed to adjust to the changing global trade environment and achieve the potential economic cooperation between their countries. They pledged to finalize seven years of negotiations to revise a bilateral accord on investment promotion and protection and launch a USD 100 million on-lending facility between their export-import banks to form the institutional and financial foundations to support Korean corporate expansion into Mexico and trade and investment.

The two sides also discussed boosting ties in future sectors centered on advanced technologies including AI and digital, aerospace and the defense industry. Given Mexico's chairmanship of the 2028 Asia-Pacific Economic Cooperation (APEC) forum, they also agreed to cooperate in implementing the AI Initiative adopted last year at the APEC Economic Leaders' Meeting in Gyeongju, Gyeongsangbuk-do Province.

In aerospace, both presidents pledged to keep discussing the launch of a comprehensive cooperation framework going beyond aircraft exports to include localized output, maintenance and supply chain participation.

Seoul and Mexico City also agreed to provide institutional support for cultural exchanges, which have risen through Korean content, food and other areas, and pursue cooperation to promote people-to-people and cultural exchanges. In areas closely linked to daily life such as public safety, agriculture and anti-corruption efforts, they pledged to set up cooperative mechanisms that use the expertise of each country.

On the occasion of the summit, both sides signed memorandums of understanding on cooperation in economy, finance, education, culture, tourism, development and customs. Sixteen such agreements were signed during President Lee's visit, and the two countries also adopted a separate declaration on AI cooperation.

President Lee Jae Myung and Mexican President Claudia Sheinbaum on Sept. 24 hold an expanded summit at the National Palace in Mexico City.