Jordi Hereu receives the South Korean ambassador to further strengthen cooperation between the two countries

Meeting between the Minister for Industry and Tourism, Jordi Hereu, and the South Korean ambassador, Lim Soosuk

The Minister for Industry and Tourism, Jordi Hereu, held a meeting today at the Ministry's head office with the South Korean Ambassador, Lim Soosuk, to continue strengthening cooperation between the two countries.

Spain and South Korea have a solid economic relationship, framed by the EU-Korea Free Trade Agreement, which has significantly boosted trade exchanges since its entry into force in 2011. Furthermore, the holding of the Spain-Korea Joint Commission in Madrid in November 2024 reinforced the commitment of both countries to economic and trade cooperation.

According to Jordi Hereu, the Government of Spain wants to continue working to facilitate mutual investment 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 Hyundai Mobis, which received 16.7 million euros in aid from PERTE VEC II and III for the installation of a new battery production plant for electric vehicles in Navarre, which will serve the Volkswagen Group plant; or 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.

Non official translation