Mexico–South Korea relations

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Mexico–South Korea relations
Map indicating locations of Mexico and South Korea

Mexico

South Korea

Mexico–South Korea relations refer to Interstate relations between the United Mexican States and the Republic of Korea.

History of diplomatic relations[edit]

Former Presidents Felipe Calderón and Lee Myung-bak in 2010

The first contact between the peninsula of Korea and Mexico took place when Spanish Jesuits from New Spain (nowadays known as Mexico) arrived to Korea to preach Christianity. Since then, there had been very little direct contact between the two nations and any contact at all would have been done with Korean trading boats coming to Manila, capital of the Spanish crown in the Philippines and their goods and merchandise traveling by Spanish galleons to present day Mexico. In 1905, a Korean ship arrived in southern Mexico carrying approximately 1,033 Korean migrants. These migrants eventually settled in the Mexican state of Yucatán.[1]

In January 1962, Mexico and South Korea formally established diplomatic relations.[2] Since the establishment of diplomatic relations, several treaties and agreements have been signed between the two nations. In 1991, South Korean President Roh Tae-woo became the first Korean head of state to visit Mexico and Latin-America. In 1996, Mexican President Ernesto Zedillo Ponce de Leon recripcated the visit to South Korea. Since then, there have been several high level visits between the two nations.[3]

Both countries are members of the Asia-Pacific Economic Cooperation, G-20 major economies, Organisation for Economic Co-operation and Development and the United Nations.

Trade[edit]

Both the Mexican and South Korean economies are considered to be one of the biggest in the world with Mexico being the 14th biggest and South Korea being the 15th biggest, respectfully. In 2012, trade between the two nations amounted to $12 billion USD. South Korea is Mexico's sixth biggest trading partner globally and South Korean foreign direct investment in Mexico between 1999 - 2012 amounted to over $1 billion USD.[4] During the same time period, Mexico invested $200 million USD in South Korea.[5] There are 1,500 South Korean companies investing in Mexico, among them, big names such as the like of Samsung, LG, Hyundai, Posco and many others. Trade from Mexico to South Korea mainly include petrol products, minerals, seafood and beer. Products from South Korea to Mexico are mainly electronic equipment including cell phones and car parts.[6]

In 2012, Mexico and South Korea began negotiations on a free trade agreement between the two nations.[7]

Resident diplomatic missions[edit]

See also[edit]

References[edit]

External links[edit]