A conference with the Secretary of State for Trade, Jaime García-Legaz, about "The Politics of Trade and Investment of the Government of Spain and its economic prospects" was held the official launch of the Chamber of Commerce-Korea Spain.
During the official launch of the Chamber of Commerce-Korea Spain, the Secretary of State for Trade, Jaime García-Legaz, gave a talk on "The Trade and Investment Policies of the Government of Spain and its Economic Prospects".
The event took place at the Financial Club Genova on Monday 26 November, with the assistance of a number of Spanish companies including: Banco Santander, Repsol, Isofoton, EADS Casa, Telefónica, Everest, ACS, Amadeus, Mapfre, BBVA, Vueling and MZ group, among others.
Also attending the meeting were presidents and senior representatives of major Korean companies operating in Spain, such as Samsung Electronics, Hyundai, Kia Motors, GS Inima, LG Electronics, Hanjin Spain, and Korean Air.
The Secretary of State for Trade mentioned the steps taken by Spain to stabilize the economy and make it more competitive, while also illustrated the great investment opportunities that exist in Spain for Korean companies and the possibility of triangulating transactions between Korea, Spain and Latin American countries.
The South Korean Ambassador and Honorary President of the Chamber, Mr Oh Dae-sung, said that Korea wants to be a preferred partner for Spain and expressed full confidence on the opportunities for both countries to operate together in Latin America.
The President of the Chamber of Commerce Spain - Korea, Javier Cremades, pointed out the crucial role that the Chamber of Commerce Spain Korea will play in order to catalyze these opportunities, to identify new business opportunities and to link Korean and Spanish entrepreneurs. Cremades believes that South Korea is the most westernized country in Asia, which facilitates transactions and business operations. "This is an opportunity to meet and get closer to South Korea, a great technological country," he added.
Josep Piqué, Honorary Chairman of the Chamber, estimated that the core of the development of world trade has shifted to Asia and that by the characteristics of South Korea, this country can be used by Spanish companies as a platform from which to expand in Asia. In fact, Inditex, already is doing so.
Many other Spanish companies such as Santander, El Corte Ingles, Mango, BBVA and Acciona, among others, are operating in South Korea. Repsol has partnered with SK, a large Korean oil company, to establish a large lubricants refinery in Murcia, Spain.
But the fact is that trade and investment operations between South Korea and Spain, although growing, still have a huge growth potential. The Chamber of Commerce Spain – Korea aims to become an effective vehicle to expand trade relations and to boost their potential, especially among SMEs of both countries.
The launch of the Chamber concluded with a luncheon invited by the Korean Ambassador, His Excellency, Mr. Oh Dae-sung.
