Ahead of the 75th anniversary of the establishment of diplomatic relations between the Republic of Korea and the Kingdom of Spain in 2025, Gyeonggi Province Governor Dong Yeon Kim met with Isabel Díaz Ayuso, President of the Community of Madrid, Spain, at the Gyeonggi Provincial Government Complex on November 25 to exchange views on areas of cooperation between the two regions.

As part of her first visit to Korea, President Díaz Ayuso traveled to Gyeonggi Province to explore opportunities for cooperation in areas such as investment, digital initiatives, and culture. The two leaders agreed on the importance of cooperation between local governments in times of global turmoil and agreed to establish a consultation channel to explore opportunities for cooperation in cutting-edge industries such as AI, startups, healthcare, tourism, and other sectors.

Noting that Alcalá de Henares, the hometown of Cervantes, the author of Don Quixote, is located in Madrid, Governor Kim said, “I have read the complete translation of Don Quixote. After serving as Deputy Prime Minister and Minister of Economy and Finance and entering politics, I have always thought about what Don Quixote’s windmills would mean to Korean society and have been striving for innovation.”

“I heard that the president is very interested in healthcare, digitalization, and cultural exchange. I also understand that she will be visiting companies in Gyeonggi Province such as Samsung, Hyundai and LG,” Governor Kim continued. “I hope we can lay a good foundation for cooperation in future investment and business development. At the same time, I look forward to more cooperation between Madrid and Gyeonggi in the fields of startups, AI and tourism.”

“The Community of Madrid is the economic engine of Spain, playing a major role in finance, insurance and education. It is also a region open to all, with a rich culture, gastronomy, and a variety of sports and entertainment events,” said President Díaz Ayuso. “Through this visit, we hope to strengthen economic, technological and cultural ties with Gyeonggi Province and the Republic of Korea.”

“When I came to Korea and saw it for myself, I felt that it is very developed not only in terms of industry and technology, but also in terms of culture,” she said, adding, “I hope to continue working with Gyeonggi Province next year.”

Governor Kim and President Díaz Ayuso promised to pay official visits to each other at the earliest convenient time.

The Community of Madrid includes the capital city of Madrid and its metropolitan area. It has the highest GDP in Spain (EUR 262 billion in 2022) and attracts more than 75% of investments in Spain. It is the economic, political and cultural center of the Iberian Peninsula and is considered one of the most active regions for startups in Spain.

Governor Kim has been expanding engagement with Spain, including discussing cooperation measures with Spanish Ambassador to Korea Guillermo Kirkpatrick in March.

Of particular note, Gyeonggi Province successfully held the “2024 Gyeonggi Startup Summit” in September in cooperation with South Summit, a global startup platform based in Madrid. Gyeonggi Province plans to cooperate more actively with Spain next year, taking advantage of the 75th anniversary of diplomatic relations between Korea and Spain.