Seoul, South Korea — The Port of Progreso Special Economic Zone‘s has aroused the interest of companies such as Kyungshin Holdings and Hyundai Motors, two of the most prominent automotive firms in South Korea.
Yucatan Gov. Mauricio Vila Dosal traveled to South Korea for a two-day working meeting with a Hyundai executive, Sung-Jun Kim, and his corporate team, who highlighted benefits the car company would bring to Yucatan.
Special Economic Zones, which have been designated all over Mexico, offer corporate tax incentives, and other financial benefits to investors in exchange for infrastructure investment and new jobs.
Hyundai’s managers explained that the company is developing electric cars with hydrogen-powered engines. They claim they are revolutionizing the automotive industry by betting on a sustainable and environmentally friendly vehicle.
The South Korean company also boasted about its innovations in automotive software.
On his second day of activities, the governor also held a meeting with executives at Kyungshin Holdings, which supplies electronic parts to companies such as Hyundai, Kia, Daewoo and Samsung. The latter was a major investor in Yucatan’s International Convention Center, which is subtitled “Powered by Samsung.”
Following the meetings, the governor uploaded a photo of himself on an airplane headed to Okayama, Japan, presumably for more business meetings. The city of nearly 2 million people has industry that specializes in petrochemicals, transport equipment and steel.
Yucatan and South Korea have maintained warm relations for decades. Most recently, the Asian government has hinted at investing in the Maya Train project.
Moreover, Merida has named a stretch of street in honor of the nation. Calle 7 in Altabrisa is now Avenida República de Corea, or Republic of Korea Avenue.
At the time, Gov. Vila Dosal was the mayor, and he invited Korean Ambassador Chun Bee Hoo to be an honored guest of a naming ceremony.
With information from Yucatán Ahora.