Strengthening Joint Entry of Korean-Spanish Construction Industry into Third Countries

Participation in Korea-Spain Green and Digital Business Summit... Promoting Strategic Partnerships in Asia, Latin America, and Beyond

[Spain (Madrid) = Joint Press Corps] South Korea and Spain have agreed to explore ways to further strengthen their joint entry into third countries such as Latin America and Asia in the construction industry.

On the 16th (local time), construction companies from both countries discussed this at the 'Han-Spain Green·Digital Business Summit' held in Madrid, Spain. To expand joint entry into third countries and cooperation between companies, they decided to strengthen infrastructure cooperation through forums such as the 'Han-Spain Construction Cooperation Forum.'

Since the 1980s, construction companies from both countries have continued to cooperate as mutually beneficial partners in infrastructure projects in the Middle East, Asia, and Latin America based on their respective strengths. Spain is known as a construction powerhouse ranked second in overseas construction contract amounts.

[Image source=Yonhap News]

Korean and Spanish construction companies are strengthening cooperation in third countries. In the case of the Riyadh Metro Package 3 in Saudi Arabia, a Korean company with strengths in constructing above-ground metro sections collaborated with a Spanish company that excels in underground section construction.

The Colombia Bello Wastewater Treatment Plant project is an example of joint entry into Latin America by a Korean company with extensive experience in large-scale infrastructure projects and a Spanish company with excellent construction performance in wastewater treatment plant construction.

Governments and companies of both countries have continuously worked to establish a foundation for construction infrastructure cooperation. Moving forward, they plan to further expand joint entry of construction companies into third countries, diversify entry regions, and broaden infrastructure cooperation in future urban development fields such as smart cities.