[Anchor]
President Lee Jae-myung, on a state visit to Mexico, has effectively formalized the push for a Comprehensive Economic Partnership Agreement (CEPA) between South Korea and Mexico. He also visited a K-pop concert venue in Mexico, the largest market for K-content in Latin America.
Reporter Kang Min-u reports from Mexico City.
[Reporter]
At a business forum attended by business leaders from South Korea and Mexico, President Lee Jae-myung emphasized that the two nations are engaging in remarkable cooperation in cultural and advanced industries, while raising the need for a "trade agreement."
"[Despite these remarkable cooperative achievements, the economic relationship between our two countries has not yet advanced to a comprehensive trade agreement. The two governments should promptly resume related discussions and….]"
An official from the presidential office stated that the "trade agreement" mentioned by President Lee refers to a CEPA, or Comprehensive Economic Partnership Agreement, and that both countries have agreed to jointly study the economic impact of such an agreement.
At the "K-Expo" event, which was also attended by South Korean business figures, recent tariff barriers were raised as a major challenge:
[Kim Seung-hwan / CEO of Amorepacific: (Tariffs) have gone up by about 10% or more. Our competitors are mainly from the United States, Japan, and Europe, but as it happens, those nations already have signed FTAs….]
With President Lee's visit to Mexico as a turning point, observers anticipate that efforts to pursue a trade pact covering trade, investment, supply chains, and tariffs will begin in earnest.
President Lee and First Lady Kim Hye-kyung met with young Mexican fans of K-pop and emphasized the significance of cultural exchanges:
"[Culture truly seems not only to connect people to people, but also to connect nations to nations.]"
Holding cheering light sticks together, they also briefly watched a performance by the K-pop boy band Stray Kids.
"[Corea! Corea!]"
Having concluded his seven-day, five-night trip to the United States and Mexico on the occasion of the UN General Assembly, President Lee Jae-myung will depart for home tomorrow, September 27, with a stopover in Anchorage, Alaska.
Video by Jeong Sang-bo | Video Editing by Won Hyeong-hee | Graphics by Kim Han-gil
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