Park to visit Mexico with largest ever business delegation

March 28, 2016

SEOUL (Yonhap) — More than 100 business executives plan to travel to Mexico this week along with President Park Geun-hye, officials said Monday, in an apparent effort to try to forge new business opportunities with the large North American country.

Park is set to meet with her Mexican counterpart Enrique Pena Nieto next Monday to discuss how to boost cooperation in a wide range of issues between the two countries.

The trip follows Park’s visit to Washington for the Nuclear Security Summit with U.S. President Barack Obama and other world leaders set to be held on Thursday and Friday.

A total of 108 companies, including Samsung Electronics and Hyundai Motor, plan to send their senior executives to Mexico on the occasion of Park’s visit to try to explore new business opportunities.

It marks South Korea’s largest business delegation ever to Mexico. In 2010, only a dozen business executives traveled to Mexico with then-President Lee Myung-bak.

South Korea views Mexico as a complementary business partner, citing Mexico’s abundant natural resources and its demands for parts and other industrial materials.

South Korea’s exports to Mexico came to US$10.9 billion in 2015, up from $6.3 billion in 2006.

Seoul also believes Mexico could offer considerable business opportunities, as it is pushing for massive infrastructure projects.