# South Korea-Mexico economic and tax cooperation > Live situation record from CLSTR: https://clstr.news/situations/south-korea-mexico-economic-and-tax-cooperation > Updated: 2026-09-29T01:17:45.000Z. Sources: 21. Developments: 3. South Korea and Mexico have significantly deepened their bilateral ties through a series of diplomatic and economic engagements. Initial efforts focused on tax administration, with the National Tax Service of Korea and the Mexican tax authority addressing VAT refund delays, double taxation, and digital tax administration. Following a diplomatic tour by South Korean President Lee Jae-myung, the relationship transitioned into broader industrial cooperation. During his state visit to Mexico—the first by a South Korean president in 16 years—President Lee and President Claudia Sheinbaum adopted the ‘2026–2030 Korea-Mexico Joint Action Plan’ and successfully concluded negotiations for an updated investment protection agreement after seven years. The two nations also launched the ‘Economic, Industrial, and Resource Cooperation Initiative’, which includes a ‘joint interest study’ for a potential formal trade agreement and a joint committee for mineral and resource cooperation. This initiative aims to strengthen ties across AI, digital technology, automotive, aerospace, and defense sectors. President Lee’s recent seven-day diplomatic tour of the United States and Mexico concluded with the signing of 17 cooperation agreements. Beyond industrial expansion, customs authorities from both nations have agreed to enhance real-time information sharing to combat drug trafficking and the distribution of counterfeit ‘K-brand’ goods. During the September 2026 visit, the partnership expanded into public integrity. South Korea’s Anti-Corruption and Civil Rights Commission and Mexico’s Secretariat of Anti-Corruption and Good Governance signed a memorandum of understanding to strengthen cooperation regarding transparency, public management, and anti-corruption policies. This builds on existing programs such as public procurement capacity-building and technical assistance supported by the Inter-American Development Bank. ## Claims - South Korea and Mexico signed the ‘Economic, Industrial, and Resource Cooperation Initiative’. (corroborated by 6 sources) - The two nations agreed to launch a ‘joint interest study’ to analyze the potential benefits of a trade agreement. (corroborated by 6 sources) - Four Memorandums of Understanding (MOUs) were signed during the Korea-Mexico Business Forum. (corroborated by 6 sources) - A joint committee will be established to discuss mineral and resource cooperation and business environment improvements. (corroborated by 5 sources) - POSCO International, KAI, and FEMIA signed an MOU for aerospace industry cooperation. (corroborated by 5 sources) - HS Hyosung Advanced Materials signed an MOU to invest in an industrial product production base in San Luis Potosi. (corroborated by 5 sources) - The Korea Chamber of Commerce and Industry and KOTRA agreed to expand economic, trade, and investment cooperation with Mexican trade organizations. (corroborated by 5 sources) - The Korea-Mexico Business Forum included approximately 300 participants from government and business sectors. (corroborated by 5 sources) - The Korea and Mexico customs authorities signed an MOU to expand real-time sharing of risk information regarding drugs, K-brand counterfeit goods, and illegal items. (single source) ## Timeline ### 2026-09-29: South Korea and Mexico strengthen anti-corruption cooperation South Korean President Lee Jae-myung and Mexican President Claudia Sheinbaum Pardo met in September 2026 to sign an agreement enhancing bilateral cooperation on anti-corruption and public integrity. 2 sources. https://clstr.news/cluster/south-korea-and-mexico-strengthen-anti-corruption-cooperation ### 2026-09-27: South Korean President Lee concludes US and Mexico diplomatic tour President Lee Jae-myung concluded a diplomatic tour of the US and Mexico, securing key security discussions with Donald Trump and expanding economic and industrial cooperation with Mexico. 17 sources. https://clstr.news/cluster/south-korea-and-mexico-expand-economic-cooperation-and-prepare-for-trade-agreement ### 2026-09-23: South Korean and Mexican tax authorities hold first meeting to support Korean firms South Korean and Mexican tax authorities held their first official meeting in Mexico City to discuss tax support for Korean firms, addressing VAT refunds, double taxation, and digital tax cooperation. 3 sources. https://clstr.news/cluster/south-korean-and-mexican-tax-authorities-hold-first-meeting-to-support-korean-firms --- Cite as: South Korea-Mexico economic and tax cooperation. CLSTR, https://clstr.news/situations/south-korea-mexico-economic-and-tax-cooperation