{"id":16810,"date":"2020-04-08T11:16:09","date_gmt":"2020-04-08T02:16:09","guid":{"rendered":"https:\/\/news.samsungcnt.com\/en\/?p=16810"},"modified":"2023-03-03T12:31:30","modified_gmt":"2023-03-03T03:31:30","slug":"sct-office-spotlight-mexico","status":"publish","type":"post","link":"https:\/\/news.samsungcnt.com\/en\/features\/trading-investment\/2020-04-sct-office-spotlight-mexico\/","title":{"rendered":"SC&T office spotlight: Mexico"},"content":{"rendered":"\t\t
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Samsung C&T Trading & Investment Group has dozens of offices around the globe, each with their own areas of expertise and trading responsibilities. As part of a series, this feature will shine a spotlight on the Mexico Office.<\/p>

Having launched 40 years ago, the office has risen alongside Mexico\u2019s expanding position in the Americas. The country became, for example, the United States\u2019\u00a0top trading partner<\/a>\u00a0last year with an enormous quantity of Mexican raw materials and finished goods entering the U.S. market. Geopolitically positioned between North and South America, Mexico plays a China-like role in Latin America. Its size of\u00a01.9 million km2<\/sup><\/a>\u00a0and population of nearly\u00a0129 million<\/a>\u00a0are significantly larger than all of Mexico\u2019s seven Central American neighbors put together. Because of the country\u2019s appeal, Samsung C&T Trading & Investment Group has given its Mexico Office a major role as a regional base since starting operations there in 1980.<\/p>

The office\u2019s focal businesses build on Samsung C&T\u2019s long history in the region as the company took on a pioneering role when it first entered the Central and South American markets. In addition to its significance as a trading hub for items such as steel, chemicals, fertilizer and concentrates, the Mexico Office has also conducted project organizing. Since Central and South America have abundant natural resources, various companies engaged in the energy and social overhead capital businesses have been paying attention to these regions. Based on its integrating and organizing ability as a general trading company, Samsung C&T Trading & Investment Group has carried out projects in Mexico such as Norte II, a combined cycle power plant in Chihuahua which opened in 2014, as well as Manzanillo LNG Terminal on the country\u2019s Pacific coast that started up in 2012.<\/p>

This article will introduce in detail the areas of business that continue to push Samsung C&T\u2019s Mexico Office forward, which has operated in the heart of the Americas for four decades.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Samsung C&T Trading & Investment Group\u2019s Mexico Office in 1986<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Steel<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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One of the Mexico Office\u2019s most significant commodities is steel, mainly in the form of products such as wire rods as well as hot-rolled and cold-rolled sheets.<\/p>

In fact, the Mexican steel industry overall\u00a0remains important<\/a>\u00a0despite the global economic challenges due to the ongoing novel coronavirus pandemic. Helping to offset the instability,\u00a0Canada recently completed the adoption process<\/a>\u00a0of the new United States-Mexico-Canada Trade Agreement (USMCA), which also protects\u00a0North American steel<\/a>.<\/p>

Meanwhile, the Mexico Office\u2019s steel business perseveres, acting as a hub for the wider region and doing business with several countries in Central and South America. And the staff there have no plans to sit back going forward.<\/p>

\u201cThe steel business will focus on securing a credit line, strengthening its relationships with good existing partners, and developing new partners with the support of the headquarters in South Korea and the North America Regional Headquarters,\u201d says Senior Professional Aiden Yang, a rotational employee at the Mexico Office.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Chemicals<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Chemicals have also become an increasingly important focus for the Mexico Office, particularly due to the development of business areas such as fertilizers and mining chemicals.<\/p>

According to the Food and Agriculture Organization of the United Nations, the\u00a0outlook is positive<\/a>\u00a0for fertilizer demand in the Americas to 2022. And while metal producers are having to\u00a0wait out the coronavirus storm<\/a>\u00a0for now, there has been a trend towards increased demand for mining chemicals due to a surge in mining activity,\u00a0including in Mexico<\/a>.<\/p>

Professional Julieta Gomez is working on the office\u2019s chemicals business, having been based in Seoul from 2011 to 2018, and she especially values her global network.<\/p>

\u201cI am convinced our success comes from the fruits of teamwork and wouldn\u2019t have been possible without the hard work and effort that each of us puts into our duties every day, along with the support of the offices in Seoul, the Americas and Latin America as well,\u201d Gomez insists. \u201cPersonally, I am committed to improving my performance of the tasks under my responsibility during the coming year, and I hope to continue delivering solid results and bring excellence to the Mexico Office and Samsung C&T.\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Concentrates<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Concentrates are another area of interest for the Mexico Office. These are concentrated materials of metals like silver and copper that are produced between the stages of mining and final manufacture.<\/p>

As with other markets, the novel coronavirus outbreak has affected both\u00a0silver<\/a>\u00a0and\u00a0copper<\/a>\u00a0in recent days, but concentrates remain a priority in the longer run.<\/p>

Another aspect of the concentrates business is that it has encouraged Samsung C&T to forge relationships with local mining companies. With such ties as a platform for success, Professional Gabriela Gonzalez Rios \u2013 who oversees concentrates within the Mexico Office \u2013 is optimistic about the year ahead even if she knows it will be challenging.<\/p>

\u201cI am sure we have all the elements required to become a big player in the market; however, we need to keep working hard as a team in order to achieve our goals and meet the company\u2019s expectations,\u201d she says.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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40 years and going strong<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Four decades into life at Samsung C&T\u2019s Mexico Office and it is clear that teamwork is the glue that keeps its various efforts on track.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Team spirit continues to be an important factor driving the Mexico Office forward.<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\u201cSince opening in 1980, the Mexico Office has adapted to local trends and expanded its focus despite having a compact team,\u201d reflects Mexico Office head Hong Bum-kon. \u201cI believe this is possible because we all have clear goals, work well together, and liaise successfully with Samsung C&T headquarters and other affiliates abroad.\u201d<\/p>

By harnessing the experience of staff members from all over the world, the Mexico Office is a perfect example of a global workplace with a strong local connection.<\/p>

Related Articles:<\/p>