Nadongyeon, Yangsan Mayor, Explores Strategies for Local Promising Companies' Expansion into Spain

Visit to the Embassy of the Republic of Korea in Spain and KOTRA Madrid Trade Center

Exploring Market Entry and Cooperation Strategies for Outstanding Yangsan Companies in Spain

From November 3 to 14, Yangsan Mayor Na Dong-yeon, who is on an overseas business trip to Spain and Portugal, is busy carrying out a schedule to explore cooperation plans for local companies to enter the Spanish market by visiting local partner organizations one after another in Madrid, Spain.

Visit to the Embassy of the Republic of Korea in Spain (Right: Deputy Ambassador Im).

On the 4th (local time), Mayor Na visited the Embassy of the Republic of Korea in Spain with local businesspeople and met with Ambassador Im Soo-seok, the Ambassador to Spain.

This meeting was actively supported by Kim Tae-ho, a member of the National Assembly representing Yangsan City Eul district, who learned of Mayor Na and the businesspeople’s visit to Spain. Kim, a four-term veteran and an active member of the National Assembly’s Foreign Affairs and Unification Committee, lent his support.

At this meeting, Mayor Na introduced the economic and industrial environment and characteristics of Yangsan City and requested multifaceted support to help promising Yangsan companies enter the Spanish market.

In response, Ambassador Im mentioned Spain’s strengths as the world’s third-largest construction and tourism market and the continuous increase of Korean companies entering Spain as a corporate entry strategy, promising to spare no support to enable Yangsan’s excellent location and promising companies to enter the Spanish market.

Afterwards, Mayor Na and his delegation moved to the KOTRA Madrid Trade Center, where they held a briefing on the local business environment and corporate entry strategies.

Han Yeon-hee, the director in charge of the briefing, explained that despite the global economic downturn, Spain is expected (IMF) to have the highest economic growth within the Eurozone compared to EU member countries due to the recovery of the tourism industry and the fostering of new growth engine industries.

She also emphasized the need for a niche market discovery strategy for consumer goods that are cheaper than European products but of good quality by leveraging the rising interest in K-content and increasing awareness of Korea. However, she added that companies need thorough preparation for regulations such as certification acquisition and relatively strict customs procedures during export negotiations.

At the briefing, Mayor Na also introduced promising local companies and products. Reflecting the high interest in K-beauty products in Europe, he presented a set of cosmetics produced by local small and medium-sized enterprises, actively promoting the excellent products of Yangsan companies.

Visit to KOTRA Madrid Trade Center.

Mayor Na Dong-yeon said, “Through visits to the embassy and KOTRA Trade Center, we were able to secure active support for our companies’ entry into the Spanish market, and the participating companies also had a valuable opportunity to learn strategies for entering the K-consumer goods market.” He added, “We will spare no practical support for local companies to pioneer overseas markets in the future.”

This content was produced with the assistance of AI translation services.