Fearing a potential conflict in Asia, Western companies are looking to move production out of Taiwan. But severing ties with the self-ruled island will come at a high price for manufacturers.
Okita Iron Works, a leading Japanese company in the production of bearings, reaffirmed its commitment to Guanajuato by investing $40 million due to its competitive advantages and favorable business environment, facilitated by its strategic global location.
Around 80 companies from South Korea are interested in investing in electromobility and semiconductor manufacturing in Mexico.
Thanks to nearshoring, the interest of South Korean companies in establishing themselves in Mexico has increased.
Through missions, foreign investors visit Mexico to get to know the country, as indicated by the National Chamber of Consulting Companies.
Korean investments in Mexico continue to grow, along with trade flows, where Korea is now Mexico's third-largest trading partner.
The company plans to close its old plant in Mexico to centralize its operations in a new parts assembly factory in the country, which will start operations in April with an investment of 5,000 yen (approximately 34 million dollars).