Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
Korea, Spain hold biz forum to mark President's Madrid visit
President Moon Jae-in and Doosan Infracore Chairman Park Yong-maan, third from left, pose with other participants of the South Korea-Spain Green and Digital Business Forum in Madrid, Wednesday, on the occasion of Moon's state visit to Spain. Yonhap
By Yi Whan-woo
By Yi Whan-woo
Members of the Korea Chamber of Commerce and Industry (KCCI) and the Spanish Chamber of Commerce held their first in-person meeting since the COVID-19 outbreak on the occasion of President Moon Jae-in's state visit to Spain this week.
The South Korea-Spain Green and Digital Business Forum held in Madrid, Wednesday (local time), was jointly organized with the state-run Korea Trade-Investment Promotion Agency (KOTRA), and its opening was attended by President Moon Jae-in and Spanish Prime Minister Pedro Sanchez.
Led by Doosan Infracore Chairman Park Yong-maan, who also chairs the Korean team in the Korea-Spain Economic Cooperation Council, and Spanish Chamber of Commerce President Jose Luis Bonet, the two groups mainly discussed ways to bolster cooperation in green growth, digital technology and startups.
Other KCCI members included LG Energy Solution (LGES) CEO Kim Jong-hyun, GS Energy CEO Huh Yong-soo and Hanwha Solutions CEO Kim Hee-cheol.
Trade, Industry and Energy Minister Moon Sung-wook and KOTRA CEO Yu Jeong-yeol also participated.
Among the Spanish participants were Oskar Goitia, the chairman of the Spanish side of the Korea-Spain Economic Cooperation Council, Minister for Industry, Trade and Tourism Reyes Maroto, Ambassador to Korea Juan Ignacio Morro and Confederation of Business President Antonio Garamendi.
Park said in his opening speech that he found this year's in-person forum meaningful, noting the two business communities discussed digital technology and green sectors online last year and now they can build on such discussions.
He stressed cooperation for new technologies and next growth engines that can better tackle climate change, noticeably green energy and ICT, and battery and high-tech materials.
“Also needed is expanded cooperation among small- and medium-sized enterprises (SMEs) and startups,” he said, calling for support from their respective governments and larger companies.
LGES CEO Kim said he viewed Spain as “an attractive market” concerning lithium-ion battery-equipped electric vehicles (EVs), pointing out the country was home to lithium mines and auto factories.
“Such strength of Spain, together with expertise of LGES, can bring model cases of business cooperation,” Kim was quoted as saying in a closing statement.
GS Energy CEO Huh highly valued Spain for “having accumulated knowhow and networks through fostering Europe"s biggest renewable energy business.
He said Spain could expand its presence in Asia's renewable energy market by partnering with Korea, especially in relation to President Moon's signature Green New Deal initiative aimed at nurturing eco-friendly projects using advanced technologies.
The countries sought to hold a business forum in Seoul last year to mark the then-planned visit of Spanish King Felipe VI.
The forum was replaced with an online meeting after the king's trip was canceled due to the pandemic.
The bilateral economic cooperation council is the second-oldest of its kind among ones involving Korea. It will mark its 50th anniversary in 2022.