Yoon, Spanish PM vow greater economic cooperation, condemn N.K. missile launch

By Lee Haye-ah

SEOUL, Nov. 18 (Yonhap) -- President Yoon Suk-yeol and Spanish Prime Minister Pedro Sanchez vowed Friday to increase economic cooperation between the two countries while condemning North Korea's latest launch of an intercontinental ballistic missile.

Yoon and Sanchez made the remarks following a summit in Seoul, saying the two sides hope to reinforce the strategic partnership established last year by strengthening cooperation in areas such as semiconductors, electric vehicle batteries and renewable energy.

"We welcomed that the investment between our two countries' businesses has been expanding to electric vehicle batteries and future strategic industries, including renewable energy, such as solar power and wind power, and agreed to continue necessary assistance at the government level," Yoon said during a joint press briefing.

He also expressed hope the two countries will win more overseas construction projects together with the help of a new memorandum of understanding signed between their export financing authorities.

Yoon emphasized the importance of people-to-people exchanges, saying he and Sanchez agreed to provide further assistance to increase ties in tourism and culture, including through the planned opening of the Cervantes Institute and a Spanish tourism office in Seoul next year.

The leaders also condemned North Korea's recent ballistic missile launches.

"A short while ago, even this morning, North Korea launched an ICBM," Yoon said. "Prime Minister Sanchez and I agreed to work closely together to draw a united response from the international community."

Sanchez echoed Yoon's remarks, saying Spain strongly condemns the tests and expresses concern over the heightened tensions.

He said Spain considers South Korea to be a very important country economically and geopolitically, with the potential for greater cooperation between them.

"Semiconductors are a very critical area in the world economy," he said, recalling his visit to a Samsung semiconductor plant the previous day. "And Spain is looking to develop this area further in the future."

Sanchez also extended his deep condolences over the Itaewon crowd crush.

hague@yna.co.kr
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