Due to the efforts of Governor David Monreal, more than 1 billion pesos from Korean companies are set to arrive in Zacatecas. The president has signed an investment letter for 600 million pesos with the company MR InfraAuto and two letters of intent with Hyundai Polytech and TRIS Tubes, for 300 and 320 million pesos respectively, for their installation in the state. These investments are expected to generate approximately 800 new jobs, solidifying Zacatecas as an important investment destination.
Zacatecas offers legal certainty to foreign investments, qualified labor, and an ideal geographical position. The establishment of commercial agreements with Korean companies will not only boost the economy but also result in educational and cultural collaborations between Zacatecas and South Korea.
Governor David Monreal Ávila has successfully signed an investment letter and two letters of intent after productive meetings with South Korean businessmen and authorities. With these agreements, around 1.2 billion pesos will be invested in Zacatecas, leading to economic development, improved well-being, and progress for the families in the state.
Zacatecas has proven to be an attractive investment destination, with capital from various countries already present, such as Canada, the United States, China, Sweden, and Japan. Companies from these countries have expanded their investments in Zacatecas in 2022 and 2023.
The investment memorandum signed by Governor Monreal Ávila with MR InfraAuto, a Korean automotive sector company, will bring an investment of approximately 600 million pesos and generate over 400 new jobs. The letter of intent signed with Hyundai Polytech, also in the automotive sector, entails an investment of over 300 million pesos and the creation of 300 new jobs. Similarly, the TRIS Tubes corporation will invest approximately 320 million pesos, leading to the generation of around 100 jobs.
During the meetings, the delegation met with members of the Korea Automotive Industry Cooperation Association (KAICA), who praised the facilities and opportunities offered by the Zacatecas government. Governor Monreal Ávila’s commitment to promoting the four tractor axes of his administration – industry, countryside, mining, and tourism – was highlighted as beneficial for the economic development of the state.
The Governor and his team emphasized Zacatecas’ advantages, including its strategic geographical position, qualified labor force, and legal conditions that guarantee investment certainty. Korean companies acknowledged the willingness of the Zacatecas administration to accommodate foreign companies and expressed their excitement about the potential mutual benefits and collaborations in cultural and educational projects.
The Korean businessmen requested Governor Monreal Ávila’s continued support for investors, expressing their desire to establish a lasting relationship of brotherhood and close collaboration. The delegation included the Social Communication Coordinator, Gerardo Flores, and Yannick Berchtold, Director of Promotion and Investment Management in Korea, as well as the Government Cabinet in Zacatecas.
With these recent investments from Korean companies, Zacatecas is set to experience a significant boost in economic growth and regional development.