"King Philip VI inaugurates the Spain-Republic of Korea Business Meeting in Seoul"
The Spain-Republic of Korea Business Meeting was held in Seoul, South Korea, from 23rd to 25th October. A total of thirty-three Spanish companies participated in the event. For a day and a half each of them held meetings with Korean companies.
The Business Meeting, which coincided with the State Visit of H.M. King Felipe VI to the Republic of Korea, was inaugurated jointly by the King and the President of Korea, Moon Jae-in. The previous night the King and Queen Letizia were hosted by the President of Korea and his wife with a State Dinner in the so-called Blue House, seat of the Executive and Presidential residence.
In the opening speeches of the Meeting, both parties referred to the close ties of friendship that have united Spain and the Republic of Korea for 69 years and to the increase in trade relations between the two countries in recent years. Special mention was made of the number of Korean tourists visiting Spain. In just 6 years the number has risen from eighty thousand to almost four hundred and ninety thousand a year. Unlike tourists looking for sun and beach, Korean tourism is high income and has a strong appreciation for Spanish culture, history and gastronomy. Some visitors have translated their experiences of El Camino de Santiago into books.
King Felipe had a working breakfast with high representatives of the chaebols, known in South Korea as the large conglomerates of Korean companies that operate in very diverse sectors. Samsung, Hyundai, LG Electronics and KIA were among them. The presidents of Hyundai and Korean Airlines, Young Woon-Kong and Won Tae-echo, respectively, were also present, as well as the vice-president of Samsung Electronics, Boo Keun-yoon and the president of the Korean Chamber of Commerce and Industry, Yongmaan Park. Other attendees were Antonio Garamendi, President of the CEOE and José Luis Bonet, President of the Chamber of Commerce.
In the afternoon, the King and Queen Letizia visited the LG Sciencepark, the largest LG R&D center in the world. It employs 22,000 scientists, developers and engineers. The kings were accompanied on that visit by the president and CEO of LG Electronics Iberia, Jaime de Jaraíz and by the Director of Human Resources for Europe, Carlos Olave.
It is expected that this Business Meeting, which was jointly organized by ICEX and the Spanish Chamber of Commerce, will signify a strong impulse in the development of commercial relations between both countries.
