Samsung has confirmed its intention to expand investments in Mexico, while other Korean corporations announced their interest in undertaking or increasing their business in the country.
Mexico’s Secretary of Foreign Affairs, Marcelo Ebrard, met in Seoul with Han Jong-Hee, the CEO of Samsung Electronics, whose company has announced that it will invest in Querétaro and Tijuana in order to increase the production of household appliances in Mexico.
Ebrard was in the Republic of Korea to promote business between the two countries. He was accompanied by a delegation of Mexican businessmen, particularly start-ups from the innovation and technology industry.
At the Korean Chamber of Industry and Commerce, Secretary Ebrard led a round table on investment promotion in Mexico, in which senior executives from the main Korean groups and companies with a presence or interest in establishing themselves in Mexico and a delegation of renowned start-ups, participated.
Senior executives from companies such as Hyundai, Posco, LG, Samsung, SK, and Winia, took part in the round table meeting. Foreign Minister Marcelo Ebrard stressed that Mexico is a reliable and attractive partner for Korean companies and a solid platform to invest in sectors such as electric mobility, biotechnology, semiconductors, quality infrastructure, new technologies, and green industries.
During the meeting, the steel company Posco informed Ebrard that on July 6, they laid the first stone of what will be their plant in Ramos Arizpe, Coahuila, which will have an initial investment of $43 million USD, but is expected to increase to $136 million by 2030.
Source: El Financiero