Qualitative Analysis Team Report on 12 Countries (Economic Security in Mexico)
Institute for Future Strategy, Seoul National University — Economic Security Cluster
Qualitative Analysis Team Report (12 Countries)
Mexico’s Economic Security
The Economic Security Cluster at the Institute for Future Strategy (IFS), Seoul National University conducted a comprehensive evaluation of the economic security policies of twelve key partner countries closely linked to Korea. The qualitative analysis team—comprising current and former officials of Korea’s Ministry of Foreign Affairs—assessed each country’s economic strengths, vulnerabilities, and strategic relevance to Korea in order to identify cooperative opportunities and potential risks.
This report examines Mexico’s economic security and its implications for cooperation with Korea. Using a SWOT analysis, the study identifies the following factors:
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Strengths: Close bilateral relations, Mexico’s advantageous geopolitical position, and its pool of affordable, high-quality labour.
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Weaknesses: Chronic domestic challenges such as public insecurity, low institutional transparency, and limited prioritisation of bilateral relations.
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Opportunities: Expansion of nearshoring investment, cooperation in climate change adaptation, accelerated digitalisation, and post–COVID-19 healthcare collaboration.
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Threats: Global economic slowdown, the rise of the “Second Pink Tide” (leftward political shifts across Latin America), and weakening multilateralism.
From an economic security perspective, five main avenues for Korea–Mexico cooperation emerge:
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Economic diversification through a Korea–Mexico Free Trade Agreement (FTA) to reduce dependence on China.
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Market expansion and supply base establishment leveraging Korea’s advanced technologies in aerospace, electric vehicles, and other cutting-edge industries.
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Strategic alignment with U.S. economic security initiatives, particularly in semiconductors and related supply chains.
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Win–win cooperation frameworks to address mutual economic security concerns—such as joint health and biotechnology projects—while strengthening Korea’s industrial competitiveness.
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Supply chain resilience in critical sectors by fostering future-oriented cooperation in lithium and other strategic resources where dependency on single suppliers remains high.
Keywords:
Mexico, economic security, supply chain, nearshoring, advanced technology, semiconductors, electric vehicles, lithium, healthcare cooperation, Korea–Mexico FTA, economic diversification
