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🇰🇷KR

Trade Guide: South Korea

South Korea is a key Mexican partner in electronics and automotive. Learn about MFN tariffs, regulations, and shipping routes.

Key trade data

USD $18B

Annual bilateral trade

Top 5

Asian partner

No FTA

Under negotiation

MFN

Applicable tariff

Bilateral trade relationship

South Korea is a strategic trading partner of Mexico with USD $18B in bilateral trade. Exchange focuses on electronics, vehicles, and steel. No bilateral FTA exists, though one is under negotiation.

Top exports from Mexico

Copper ores

Chapter 26

USD $1.5B

Auto parts

Chapter 87

USD $800M

Petroleum

Chapter 27

USD $600M

Agricultural products

Chapter 8

USD $300M

Chemical products

Chapter 29

USD $200M

Top imports from this country

Electronics and displays

Chapter 85

USD $6.5B

Vehicles and auto parts

Chapter 87

USD $4.2B

Steel products

Chapter 72

USD $2.1B

Plastics and resins

Chapter 39

USD $1.5B

Industrial machinery

Chapter 84

USD $1.2B

Trade agreements

WTO (MFN)

No bilateral FTA. Most Favored Nation tariff applies.

FTA under negotiation

Korea and Mexico are negotiating a bilateral FTA to reduce tariffs.

Key regulations

  • MFN tariffs with no preferential rates
  • NOM for imported electronics and vehicles
  • Countervailing duties on Korean steel
  • IMMEX for Korean plants in Mexico
  • Display and screen import regulations

Logistics and transport

Maritime

Transit time: 22-32 days

Main ports

  • Busan
  • Incheon
  • Manzanillo
  • Lazaro Cardenas

Air

Transit time: 16-20 hours

Main ports

  • Incheon (Seoul)
  • Mexico City AICM

Business cultural tips

  • Hierarchy is fundamental — address the highest-ranking person first
  • Business is built on personal relationships and dinners
  • Respect for elders is a core value (Confucianism)
  • Decision speed is usually faster compared to Japan
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