President Moon Jae-in started the second day of his state visit to Spain on Wednesday with a floral tribute in front of a monument in the Plaza de la Lealtad, which remembers those who have sacrificed their lives for Spain.
He then took part in the South Korea-Spain Green and Digital Business Forum.
For more on this we have our Hong Yoo on the line for us.
Yoo, who took part in the business forum and what kind of concrete agreements were they able to reach?
Connyoung, as you said from South Korea, there were six business leaders who took part in the event, and that includes the heads of LG ES, GS Energy, and Hanwha Solutions.
From Spain, eight business leaders took part, including those from the companies Iberdrola, Telefonica and Indra.
Also at the forum with President Moon was the Spanish Prime Minister Pedro Sanchez.
The two sides discussed practical ways to enhance their cooperation in the green digital sector to help the economic recovery and secure growth for both countries.
The governments will be actively promoting such sector by signing three MOUs.
Those are for cooperation in green energy, digital industry 4.0, and startups.
From the private sector, the South Korean energy company GS Energy and Spain's Iberdrola signed an MOU on establishing a joint venture for a renewable energy project within the next six months.
Also, the Spainish renewable energy company Ocean Winds announced that it would invest 100 million U.S. dollars to establish an offshore wind farm in Incheon, South Korea.
Another Spanish renewable energy company EDPR is to invest 100 million dollars to establish an offshore wind farm in Goheung, Jeollanam-do province in South Korea.
President Moon, at the forum, suggested cooperation in low carbon economy, digital innovation, and helping both countries' businesses make headway in third countries.
Let's take a listen:
"We hope that Korea, which has the best electric, hydrogen and battery technology, will create a new success model with Spain in the next generation of mobility. Korea will actively support cooperation between the companies of both countries.
Moon added that through their MOU on startup cooperation, they can quicky transition into the digital economy by expanding exchanges and cooperation between their startups.
He pointed out that the two countries are cooperating already in the construction and infrastructure sector in other countries, and he said he hopes to expand that horizon of cooperaton to other sectors.
Let's take a listen:
"We hope that Spain, the bridgehead of the European, African and Latin American markets, and Korea, the bridgehead of the Asian market, will together enter the markets for 5G, electric vehicles and renewable energy and join in better global economic reconstruction as well as bilateral economic development."
Before the forum, Moon visited the Plaza de la Lealtad to pay a floral tribute to those who have sacrificed their lives for Spain.
And just minutes ago, President Moon started a bilateral summit with the Spanish Prime Minister, Pedro Sanchez.
I will have the details on this summit in later newscast.
Back to you, Connyoung.