Mexico and South Korea had announced in May that they will resume negotiations with a view to a free trade agreement, at a time when the Latin American nation seeks, together with its regional partners, to strengthen the supply chains of Asian inputs.

The result is that the South Korean Samsung will invest US$ 500 million to increase the manufacture of electrical appliances in its two plants in Mexico, said the foreign minister of the Latin American country, Marcelo Ebrard.

Check here: Solili Industrial Report 2T 2022: Demand of 1.7 million m², would report 2022 historical record

The official, who is on tour in the Asian nation, reported on Monday night that the agreement was reached during a meeting with the CEO of Samsung Electronics, Han Jong-Hee.

"He confirms an investment of US$500 million in Querétaro and Tijuana to increase the production of household appliances in Mexico," Ebrard posted on his Twitter account.

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Original note