MEXICO – An assembly of 80 South Korean companies engaged in electromobility, electric vehicle production, and semiconductor manufacturing have expressed their interest in investing and transforming Mexico into their manufacturing hub.

“In any conference arranged in Seoul, there are consistently 80 or more enterprises contemplating the potential of investment and desiring to establish operations here,” discloses Humberto Esqueda Ramos, the president of the Mexico-South Korea Bilateral Committee of the Mexican Business Council for Foreign Trade, Investment, and Technology (Comce).

He elaborates that presently, there exists a significant opportunity for the influx of Korean enterprises specializing in the production of innovative technologies such as electromobility.

“I firmly believe that all aspects relating to electric vehicles and the supply of electric vehicle components will discover an exceedingly competitive environment for production and manufacturing right here in Mexico,” he asserts.

The business representative has engaged in various events over the course of this year, including investment seminars held in both Mexico and South Korea.

“During the latest two investment seminars conducted in Seoul by the Mexican and Korean industries, a range of approximately 80 to 100 companies linked to electromobility, semiconductor production, and the electric vehicle sector were observed,” states the entrepreneur.

Mexico ranks as South Korea’s third most significant trading partner, with the United States and China being the primary customers for the latter nation.

Korean enterprises such as Posco, Kia, Inzi, Samsung, LG, Speco, Pantech, Nieco, Hyundai, Dyos, Kepco, and others have invested over US$8.4 billion in the establishment of plants and factories in Mexico.