The Minister of Industry and Tourism, Jordi Hereu has held a meeting at the headquarters of the Ministry with the ambassador of South Korea, Lim Soosuk, to continue strengthening cooperation between both countries.
Spain and South Korea maintain a solid economic relationship, framed in the Free Trade Agreement between the EU and Korea, which has significantly boosted trade exchanges since its entry into force in 2011. Likewise, the celebration of the Spain-Korea Joint Commission in Madrid, in November 2024, reinforced the commitment of both countries to economic and commercial cooperation.
According to Jordi Hereu, the Spanish Government wants to continue working to facilitate mutual investments with South Korea, with whom it shares interests in the development of strategic sectors such as renewable energy, the automotive industry, digitalisation, artificial intelligence and green hydrogen.
He also highlighted investments by Korean companies in Spain, such as that of Hyundai mobis, which received aid of 16,7 million euros from the PERTE VEC II and III for the installation of a new battery production plant for electric vehicles in Navarra, which will serve the plant of Grupo Volkswagen; wave of Lotte Energy Materials, which received 49,2 million euros in aid from PERTE VEC II for a manufacturing plant for electric battery components in Tarragona.
Any questions about this news?
Talk to Coexia, the AI of the foreign trade
