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Minister Kim Hyun-mi Raises Korea-Spain Construction Cooperation to a New Level
- Interview with Spanish Minister of Development on the 16th... Discussed measures to promote joint entry into third countries and to expand economic cooperation
□ Minister of Land, Infrastructure and Transport visited the Spanish Ministry of Development on January 16 (Wed.) to speak with Jose Luis Abalos Meco to hold in-depth discussions on plans to strengthen joint cooperation on the land and transportation sectors.
ㅇ During this meeting, the two sides agreed to provide detailed support to find business opportunities and to diversify markets including Latin America and Asia to utilize the strengths of each nation to maximize synergy effects in order to promote joint entry into third nations for the construction sector that had been floating at theoretical levels until now.
ㅇ In particular, the two sides agreed to actively search for cooperation opportunities between the public corporations of the two nations that are in charge of railways, aviation, urban development, etc. in addition to cooperation in the private sector, while also continuously expanding cooperation between the two governments in the smart city(intelligent city) sector as well.
ㅇ Furthermore, they agreed to provide full support for strengthening cooperation* between the newly established Korea Overseas Infrastructure & Urban Development Corporation and the Spanish Instituto de Credito Oficial (ICO) to effectively respond to the rapidly growing investment development project (PPP).
* Accordingly, a cooperation MOU was signed and entered between Korea’s
KIND and Spain’s ICO in the afternoon of January 16 (Wed.)
ㅇ Furthermore, Spain answered that it would provide full support and cooperation to Korea’s request for support on the ICAO (International Civil Aviation Organization) part III elections that Korea is scheduled to run for again this year.
□ Minister Kim Hyun-mee then participated in the ‘Korea-Spain Construction Industry Networking Business Forum’ co-hosted by Korea’s Ministry of Land, Infrastructure and Transport, International Contractors Association of Korea, and the Spanish Association of Infrastructure Contractors and Concessionaires (SEOPAN) and explained the need for cooperation in the construction sector for the two nations as well as the need to jointly enter third countries, winning consensus of the Spanish construction industry.
ㅇ Industry representatives from the two nations that were in attendance expressed their will to create a virtuous circle structure of win-win strategies by finding business opportunities and through joint entry in Asia and the Americas including Latin America.
* Participating Spanish companies: ACS (first in the world based on ENR sales),
Ferrovial(11th), Acciona (31st), etc.
□ Minister Kim Hyun-mee will then move to Barcelona on the 17th (Thu) and attend the “Smart City Cooperation MOU” signing ceremony between Catalonia Trade & Investment and Korea’s Smart City Association and take a visit to the sites that combined the smart city techniques and urban regeneration of the ‘22@Barcelona Project District’, resuming smart-city cooperation activities between Korea and Spain, and is scheduled to return to Korea on the 18th (Fri, KST).
January 16, 2019
Spokesperson
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