A Study on the Trade Situations and Improvements between Korea and Mexico

A Study on the Trade Situations and Improvements between Korea and Mexico

Mexico is an important trade counterpart in that trade volume has surged since the late 1990s and it is one of the countries where Korea records huge trade surplus. Until recently, Korea's trade with Mexico has been mainly about concentrated investment into manufacturing and exporting limited variety of export items. Especially, it was intended to indirectly enter the US. market rather than to preoccupy Mexican domestic market. Although making surplus in the trade with Mexico, Korea is facing inevitable problem of intensified competition with competing countries by FT As which are intended to diversify market and also facing difficulties occurred by abolition of maquiladora benefit program by NAFTA provision. This paper analyzes the recent trends of problems of trade between Korea and Mexico and suggests solutions for boosting trade to provide proper strategic guidelines for Korean companies that are planning to expand to Mexican market.