Due to nearshoring, 80 companies from South Korea want to invest in electronics and semiconductors in Mexico
A group of 80 electromobility, electric vehicle, and semiconductor manufacturers from South Korea are interested in investing and making Mexico their manufacturing hub.
According to Humberto Esqueda Ramos, president of the Comité Bilateral México-Corea del Sur of the Mexican Chamber of Commerce for Foreign Trade, Investment, and Technology (Comce), «At every seminar now held in Seoul, there are always at least 80 companies looking into the possibility of investing and wanting to come to here (Mexico)».
According to Forbes Mexico, the arrival of Korean companies to Mexico that specialize in manufacturing cutting-edge technologies like electromobility has created a significant opportunity.
Mexico is the third-largest trading partner for South Korea, whose top customers are the United States and China.
More than $8,475,000,000 has been invested by Korean businesses including Posco, Kia, Inzi, Samsung, LG, Speco, Pantech, Nieco, Hyundai, Dyos, Kepco, and others in the building of plants and factories in Mexico.
More than 150 million people are currently employed by Korean companies’ operations in Mexico.
More than 430 Korean businesses operate in Mexico, and the Secretary of Economy records more than 2,030 of them, including micro, small, and middle-sized businesses.
